We have a pair of gloves at the Studio for Electronic Music in Dresden. Now I did some testing and demo videos.
IMU Test, demonstrating pitch, roll and yaw tracking. Seb said its more accurate than the Wii-Remote IMU.
Looks a bit struggling, because I had to move my arm in just one place for the camera.
Posture Test. The software has some nice posture recognition abilities, which work incredibly good after a decent learning session.
Now you can combine both of the above to generate combined movements such as knob turning:
Or moving a lever:
Combining continuos and discrete gesture/controller types is a mighty powerful interaction pattern.