I seriously doubt that this is possible. While the gyro seems to be surprisingly accurate, the accelerometer simply is not. Regardless of the precision that the accelerometer has, it gives you so much noise that realistically the best you can do with it is to recognize gestures or tilt.

I suspect that if what you wanted was possible, that somebody with lots of money would have hired somebody smart enough to figure this out by now for either the iPhone's, Wii's or PS3's accelerometers.