I think shopping cart -type wheels on all corners would be a better idea, since that would allow dragging the luggage sideways. Also having only one rotating handle (instead of two support beams) would allow the baggage to rotate as much it wants, yet always having your hand in same position, and all wheels rolling in the right direction.
Having swivel casters would just be annoying. If you've every tried navigating an overhead cart through your high school hallways, you can never keep the darn thing going straight and it just ends up running into people. The point of having just two wheels contacting the ground is that the luggage follows behind you instead of swinging out to the side. Rotating handle is a good idea, but it would be difficult to make it strong enough (especially if you pack heavy like some people do).
Samsonite has this already. You can move your luggage in any direction - including sideways.
You're right - it is a great idea.
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