Vibration Analysis on a Car

[572Camaro]

In the 1980’s, I was a vibration engineer and using vibration analysis equipment, I diagnosed wear in bearings, pump/motor misalignment, imbalance, journal bearing wear, etc.
All in nuclear power plants.
COULD this be a technology useful for hot rods?
I think I could detect things like a weak cylinder, valvetrain wear, imbalances, A/C compressor bearing wear, etc.
Basically use an accelerometer mounted at specific points on an engine, hold rpm steady, and take readings. Then perform an FFT algorithm on an iPad, and read the frequency spectrum.
COULD IT WORK?
HAS IT EVER BEEN DONE?