Sorry to revive an old(ish) thread, but I'm also looking to do this, though with headphones.
My reasons are similar - in my home office I have two PCs, one purely for gaming, the other for general Internet life. I often will have movies running on the second PC. At the moment I'm just using analog stereo and it's trivial to mix the signals and play both simultaneously - I've been doing it for years.
To express surprise that someone would do this strikes me as slightly odd, as people often have a TV on in the background while they do other tasks. I would not use it when using my home theater or even when I'm trying to focus on a specific task, but I spend quite a lot of time in situations where it makes sense.
Personally, I'm interested in 5.1 more for the 5 than the .1 as I really just want positional audio in games. From the second PC I'd be satisfied with just stereo. At the moment, I've been trying to locate a comfortable 5.1 set of headphones that uses an analog connector and I'd connect the main drivers through a mixer and tweak the levels until I got it about right.
One of my issues is that I have spent quite a bit of money on my audio systems and am spoiled. I'm using fairly decent headphones... and none of the 5.1 headphones I've found are clear or comfortable. Most are ridiculously bad in both areas.
The PC's involved don't touch my A or B system - they're really just toys and I don't particularly care if the quality is sub par. Or if it damages the equipment over a long period of time, now that I think about it.
As far as costs, I would pay quite a bit if the solution worked really well. I've been tinkering with this problem for a while now and the largest stumbling block for me seems that most people into mid to high end audio do not appreciate the importance of gaming.