Is it feasible to arbitrage Bitcoin prices between different exchanges given the large spreads?

For someone who tried to be clear and tried it. I got some Bitcoin into BTC-e (shipped money to BTC-e, and got charged 6% for the incoming wire transfer), after that got some Bitcoins. Transferred them out, got them into MtGox, and sold them. Money took 19 days to realize on MtGox and then repeat. Only bummer was MtGox has a limits and exchange take their own sweet time to settle your money in and out.

Its possible with multiple account and multiple pockets of money.