Kinnar, the LM48901 is very good for small, personal sized, applications in that it creates a broader stereo field from 2-4 speakers confined to a small space. A "professional" system would, in my opinion, be one where small speaker spacings would not be a problem and higher output powers might be required. Therefore the solution might be different.
That said, there have been implementations of up to four (4) LM48901's daisy chained together to create a large screen flat TV sound bar utilizing small, thin, speakers.
LM48901 is a very good product, this product might be a part of many professional system but unfortunately the article is not listing use of any such designed products. But the article provided very good introduction to the LM48901.
Blog Doing Math in FPGAs Tom Burke 23 comments For a recent project, I explored doing "real" (that is, non-integer) math on a Spartan 3 FPGA. FPGAs, by their nature, do integer math. That is, there's no floating-point ...