Slider Concept

This may have been done before, but I haven't really noticed it. If you have seen this type of concept before, please comment with a link I'd love to see! PSD Attached for those who want to play around!

This is a thought I had about sliders. Usually values are indicated underneath. This solution seems to be a bit more 'economical' with space. This could be more intuitive also because the values selected are displayed where you are already looking, and it makes sense that the values for what you have selected are displayed in the selection.