Audio Routing w/ Beagleboard

Hi all. I am new to the beagleboard, and moderately familiar with
Linux. I have a concept that I would like to try and start
implementing. The basic idea is that I want to use a Beagleboard or a
similar linux power SBC to perform basic audio routing and perhaps
some limited DSP on the audio streams.

The basic idea:

1) Expand audio/in out compatibility with USB audio device to allow 5
inputs and 5 outputs. Use a device similar to:,or.r_gc.r_pw.&um=1&ie=UTF-8&cid=4004044880614113635&sa=X&ei=5J2gTZX5JcGTtweqx4SdAw&ved=0CEkQ8wIwAw#

2) Use some like Alsa or Jack to provide custom audio mixing from
audio I/O and TCP/IP. For example, I want to configure one set of
audio in/out to a user that may want to hear an intercom and audio
from medie. But another used may just want to hear intercom audio

3) Provide a GUI via touchscreen to adjust volumes of each audio

Any have any idea of hardware to use for 1) and if the Beagleboard can
support the mixing requirements with some relatively straightforward
work? Am I asking for more than the OMAP horsepower can provide?
Anyone done something similar to this?