A flat rendering will never be perfect as the image needs to be distorted to get proper 180d FOV, but this is very close when there in real life.
you have to understand that the video shot with a fisheye is still viewed on a flat screen so still distorted when viewed.
here is a couple of screen shots with image distortion turned on, these are perfect when viewed on our dome for flight sims
the images are upside down as we turn the projector back to front for flight sim to get the view on the 'top' of the dome.
The problem with more than one projector if you have never set them up is edge blending, colour matching and general positioning and most of all cost. there are more lamps to replace and have to fixed extremely acuratly.
thanks for the comments though
please see above, this is only a concept so far with regards to driving sims. but as stated above we already implement this software for flight sims and also other military applications.
what needs doing is 4 views are actually shot from virtual camera's and then rendered as 1 channel to output to the projector. this pre-distortes the image allowing 180x135 FOV distortion free. i will try and dig out some screenshots of our flight sim app with distortion correction applied.
It is quite amazing when workign 100% to get this effect from a single channel. It makes the game play much more immersive as you can see cars pulling up alongside when tring to outbrake you!
i have another youtube vid uploading now which may show more.
The spherical distortion is currently being worked on, we already use this technology for flight sim's. We have a free API which allows for undistorted images. Once again this is just a mockup for trials.
The effect is actually a lot better when sat in the drivers seat than on the video as i am sat inside a dome screeen.
The projector has a special omnifocus lens which evenly distrubtes the pixels around the screen 180deg H and 135 deg V. This current projector is only working at 1024x7678 but coming soon are hopefulyl our HD projectors with same lens technology.