The "physics" (actually thermodynamics) of the staged blowers is exactly the same as it is for staged turbos - and a lot of big power diesels (and mid 90s imports) run staged turbos...

That said, that car is simply retarded.

 

http://www.youtube.com/watch?v=_0ZoCCwoedE

Here's a longer clip, the guy tells a little about the set up.

 

Yeah I thought I heard before he had the guts pulled out of the bottom blower.... I've seen those vids before its a badass ride, I wouldn't mine having it sitting out in my shop to turn some heads.