Thanks Brian,
Wouldn't the same thing happen with wedges? Sound travels approximately 1 foot per millisecond. If the wedge is 6 feet from your head, you have an inherent 6 mSec delay just from the speed of sound. With a wired IEM system (I use a Furman wired IEM system), the only delay would be the digital processing of the mixer (on the X32 this is about 1 mSec).
Then there is the inherent delays we hear all the time from reflections in a room. All of these are generally tend to give you a sense of space.
Even if you are using wireless microphones, a digital console, and wireless IEM's , you have 3mSec for the mic, 3mSec for the console, and 3mSec for the IEM. It still seems like it would be OK.... but then maybe there are some people that can hear it.
Inventive idea to use an analog IEM send just to avoid the latency
Wouldn't having a little verb in the monitor cover up any slight delay anyway?