48 fps should present no problem for the current TVs and most BD players, the only problem I can see this presenting for current HD equipment is that double framerate means twice more data, so you need to double the bitrate to keep it the same quality.

What I'm concerned about (and correct me if I'm wrong) is that for playback on devices (including cinema projectors) not capable of playing back 48fps, it would have to be converted to normal 24fps by either dropping half the frames or interpolating every two frames into one, first of which would probably result in choppy movement and the second would create the ghosting inherent having two different frames overlayed.