Again for everyone: who ever needs spacial (meaning 3d) sound, the SoundScape Renderer supports lots of different rendering techniques and is free.http://www.tu-berlin.de/?id=ssr If you don’t have a lot of speakes at hand, binaural rendering using headphones is an easy and good sounding choice.
To get an idea, grab some decent headphones and watch this demo video for a remote control running on Android phones I did 🙂
How realistic it sounds depends on various factors like how good the headphones are, how close the form of your ear is to the „ear that is simulated“ and of course of the sounds that are played. Humans are made to understand speech, so that always works best. Very very good in fact. Cheers,