LOL!! Thanks for refocusing and coming back to the original question in my behalf. I have similar responses to my question on other forums and I'm beginning to conclude that an affordable, available technology just isn't there. It was worth the question. BTW your book hasn't arrived yet but it shipped.
Jack and Bob:
That was a pretty educational exchange, you guys. Thanks for all the info!
Of course there is also single sideband suppressed carrier aka:SSBSC, which is actually what is used with most ham gear. (and ham is where we really get the Hawaiian connection going ) The big "advantage" of this communication method is that the receiver has to have a local oscillator to replace the suppressed carrier, which, when you tune slightly off the proper receiver frequency, makes the person you are receiving sound like Donald Duck! Imagine the possibilities that would ensue if people actually tried to play music together with such a system !! .
You guys have not yet discussed much about the speed of light and buffering (time delay) issues that are part and parcel of the thing you are trying to do (and have been endlessly discussed all over the web).
You should check out Ninjam if you want to be able to work around these time delay issues.