A sound processing system, method and program product for estimating parameters from binaural audio data. A system is provided having: a system for inputting binaural audio; and a binaural signal analyzer (BICAM) that: performs autocorrelation on both the first channel and second channel to generate a pair of autocorrelation functions; performs a first layer cross-correlation between the first channel and second channel to generate a first layer cross-correlation function; removes the center peak from the first layer cross-correlation function and a selected autocorrelation function to create a modified pair; performs a second layer cross-correlation between the modified pair to determine a temporal mismatch; generates a resulting function by replacing the first layer cross correlation function with the selected autocorrelation function using the temporal mismatch; and utilizes the resulting function to determine ITD parameters and interaural level difference ILD parameters of the direct sound components and reflected sound components.