Trying like hell to find out if sending a track to a stereo reverb post pan is a viable option.
Yes, it's viable, put it requires a reverb with a genuine stereo input. There are some, but most actually sum left and right and generate the stereo reverb field from a mono source.
In a live room, a source @ 2:00, 10' back should create a reverb starting from that spot in the stereo/depth field no?
No. The direct sound comes from that point, but the reverb itself comes from the reflections off the room surfaces -- so the reverb inherently comes mostly from the outside edges of the sound field. Clearly, the position of the source relative to the room boundaries will affect the composition of the early reflections, and that helps to determine the character of the room ambience, but the effect is usually very subtle and not generally worth bothering about.
Some reverbs that employ ray tracing algorithms to calculate the reverb are able to alter the early reflections depending on source panning -- some of the TC Electronic models, for example. But they tend to be the exception rather than the rule.
But on true stereo sources, won't these signals distort stereo imaging?
Not to any significant effect in the vast majority of cases.
Technical Editor, Sound On Sound