Returning to this after quite a while, some updates:
The original architecture was a cool proof of concept for the idea itself, but I think needs a rev2 at least, and I'm pretty much completely redoing the software.
A bit part of the problem has been trying to fit "everything" onto the one teensy. The muxed ADCs on it are, combined, plenty fast and have a perfectly sufficient SNR when doing smoothing/resampling. The problem is that 512k of TCM, even with the additional 512k of non-TCM, is just not enough to store all of the samples at once that I need in order to do correlative calibration. Even at 8 bytes per sample (16 bit absolute value, 48 bit timestamp) I would only be able to hold a couple hundred samples per key.
On the other hand, the teensy is very capable as a "smart" ADC, timestamper, and data acquisition unit. There's a 480mbit USB HS 2.0 port right there, and I've set up flatbuffers via COBS encoding over the serial-style link I get over that. With "empty" message insertion, I should be able to avoid even the worst-case 1ms of latency from USB polling.
All of this means that the sound generator is going to need to be part of the system, and run some software. On the other hand, this means I can write the smarts in an environment with virtual memory, a normal allocator, multiple cores, 64 bit native word sizes, and can consume many whole megabytes of memory. This also means I'll be integrating a bar-style LCD panel for controlling it with a custom UI (probably written in Dioxus, I've been meaning to learn that) and however much number gathering/number crunching I want.
So, far from dead, but this gives me a chance to also re-spin the boards with component selection that isn't as fiddly to hand solder (those tiny analog switches were the bane of my existence), boards that fit into cheaper 10x10cm layouts, and sensor boards that have a more reasonable way to securely mount them. From an EE perspective this has been plenty robust, and I probably went a bit overkill on protecting signal integrity, so I can likely make things a bit more compact this time around.
Very excited to pick this back up and hopefully make a final push to get it done.