DDS idea!

[FREq]

I just had an idea to use DDS (direct digital synthesis) as a 
function generator. By using an adder, latch and Eprom/RAM you could 
easily produce any waveform by making a look-up table which you could 
configure easily. By adjusting the rate the Eprom/RAM is read you could get a 
good range of frequencies I suspect. 
Has anyone implemented such a thing as this - do ya reckon itd work?

Aran.