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Sony/Verant gave up because the amount of cpu they used just to keep the crypto strong started to weigh heavily on the back-end, and people would just get the key out of memory anyways, and they really didn't have a way to detect that at the time.
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Yep, you need a lot of CPU or special machines like nciphers to do that job for you.
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The real only way it would work? Something like those online gaming services where they run the software on their machine and just forward you a display and accept input. Now that would be true client security.
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It's the best method, but don't think this project can afford that idea
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A VPN would be really heavy for some clients and probably the lag would increase dramatically