The WoS was a great thing, and the research that came from it is still relevant, but it's extremely outdated. Most of the problems it was trying to cure, especially intermodulation distortion, are no longer problematic. While it would be awesome to see in action (I missed it by 2 years, which seemed like a long time back then, but is a blink of an eye now), what we hear now is probably better fidelity. Especially the low end. The Meyer subs are way more efficient and powerful.
And then there is the cost. It would be hideously expensive to get such a thing going now.
The one aspect of it that would probably not be bettered by the modern systems is the localization aspect. With each instrument coming from its own speakers, the sense of a band being in front of you, rather than on the other side of a sound system, would be awesome. Like a bar band brought large. There's no replicating that that by other means.