"creating a simulator more advanced than any commercial entertainment systems currently available"
And more expensive. And more bulky. And horribly impractical. And outdone by any number of commercial non-entertainment systems and/or systems that *aren't* currently available any more. And not, actually, very realistic at all (you still can't fly upside-down without gravity making you feel like your feet have just pushed all the blood into your skull, for example).
As others have pointed out, these systems already exist. There's no reason to replicate them unless you can do something new. I don't see them being able to do anything new - in fact, I imagine the problems of reliably powering and talking to a system that's capable of 360 degree movement without tangled cables or dodgy connections would take longer to solve than they have.
Have fun, guys, but seriously - throwing a few hundred kilos of electrically-powered and electronic equipment around in 3D space without killing someone or breaking something is not as simple as you think.