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This is not exactly what you are proposing, but related in some ways:
If you google "start stop car" you will find lots of links to an up and coming technology that shuts the engine off when you are at a stoplight and starts it up instantly when you release the brake (or press in the clutch).
Some of these systems just use a beefed up starter motor to deal with the greater demands of frequent fast starting, but some systems designed for trucks(Ford I think) use a hydraulic pump to compress air when you brake, and use that compressed air to get the vehicle moving again. These systems are quite effective at reducing the wasted fuel in start stop traffic, in some cases saving up to 10%
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