Exerscape did this long ago (Score 1)

A guy named Bruce Ewert out of Utah made a similar device years ago. In fact it could be the same technology. He had a couple of smart notions including the use of wheel speed and heart rate to determine movie flick rate. Whereby you really do control the trail speed and make the experience more real. He had two problems, it was based on 3DO and it required the user to own: A bike, a big screen tv, a wind-trainer for the bike, and 3DO. At that point if the user bought Ewerts product they would be good to go. That's a tough sell.

He recreated his company and it is progressing nicely apparently. The software is ported to pcs and more and he has strong partnerships and some good patents on the flick rate to wheel speed stuff. Check it out at Exerscape.com