Well, as it was mentioned before Rich Markdown plugin is aiming to bring exactly the instant rendering capability you're describing. Indeed, it doesn't have support for all of the markdown features yet but it's clearly on the right track. If people to support the developer, surely he would be able to devote more time to the project.
The main gist here that it is better and easier to support / expand existing implementation than to gain support for unclear and unproven approach.
Anyways, thank you for the feedback and welcome to the forum, cheers!
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