assumong 330m/s for the speed of sound, you can get 1 inch of precision at a sample rate of just under 13kHz. With 3 channels of 12-bit accelerometer data that's ~ 58kBps with no compression which doesn't seem too out there. Of course you can get a pretty close approximation at much lower sample rates (/2, /4, /8, /16) using band-limited interpolation
helium is 972 m/s, aluminum 5100 m/s, steel 6100 m/s. depending on what they actually measure, correct triangulation sounds like a non-trivial problem; good job spacex for solving that. (unless your cad software does that for you :))