Last week I was working on that little extension. Audio plays a huge role in games and the better control you have over it, the better atmosphere you can create.
With this extension you can create sound sources from mono WAV files, position them and perform other stuff. You also control the position of the listener.
The extension and documentation are on github.
And here is a demonstration.
Keep in mind that only mono WAV files will be positioned. And at the moment a WAV file with embedded metadata will fail to load.
Later on I plan to add effects support. Like reverberation and filters (low pass, high pass). And soundwave generation to be used instead of WAV files (sine, square, etc).
Contribution is welcome.