1. A personal audio system, comprising: a housing configured to interface with a user's ear; an input subsystem disposed within the housing and comprising a microphone, a preamplifier and an analog to digital converter coupled to one another, the input subsystem configured to convert ambient sound into an ambient audio stream; a memory storing data defining a plurality of processing parameter sets; a processor disposed within the housing and coupled to the input subsystem, the processor configured to generate a processed ambient audio stream by processing the ambient audio stream in accordance with a selected set of processing parameters selected from the plurality of processing parameter sets stored in the memory; a communications interface in communication with a controller and the processor, the communications interface configured to receive a new set of processing parameters, selected by someone other than the user; a geo-locator configured to determine a current location of the personal audio system, wherein the current location is transmitted using the communications interface to a sound knowledgebase for use in determining if the current location is associated with a location-specific set of processing parameters that may be used by the personal audio system as the new set of processing parameters, and wherein when the location-specific set of processing parameters associated with the current location exists, the communications interface receiving the location-specific set of processing parameters for use as the new set of processing parameters; the controller, in communication with the processor and the communications interface, the controller configured to instruct the processor to begin generating the processed ambient audio stream by using the new set of processing parameters; and an output subsystem disposed within the housing and coupled to the processor, the output subsystem comprising a digital to analog converter, an amplifier and a speaker coupled to one another, the output subsystem configured to convert the processed ambient audio stream into processed output sound for the user's ear.