We definitely need a new system of courts here in the US. After that abomination of a decision on Monday in Raich, the USSC hasn't got the integrity to decide the winner of the race for dog catcher in Blue Balls, PA.
The court envisioned right now would be voluntary, like current Jewsih religious courts. It would not replace secular courts until after the Messiah is acknowledged.
This 'Sanhedrin' is a very long way from being accepted or even acknowledged.
http://www.jpost.com/servlet/Satellite?pagename=JPost/JPArticle/ShowFull&cid=1118110994630
"All major halachic authorities, including Rabbi Yosef Shalom Elyashiv, the leading haredi Ashkenazi spiritual leader, and Rabbi Ovadia Yosef, the premier Sephardi halachic opinion, have refused repeated requests to offer their support.
"There is also a broad consensus, even among national religious rabbis such as Rabbi Avraham Shapira and Rabbi Mordechai Eliyahu, that no steps should be made toward the building of a Third Temple."