1. An improved ultrasonic imaging system having a plurality of transmitter/receiver array elements configured to propagate a pulse of ultrasonic energy towards the surface of a sample, and to receive a return echo, the improvement comprising: a plurality of processing circuit sets, each of said plurality of processing circuit sets associated with one of the plurality of transmitter/receiver array elements; wherein each of said plurality of processing circuit sets is configured to store a plurality of data values representative of a plurality of digitized ultrasonic return echoes received at an associated transmitter/receiver array element during discrete sample periods; and wherein each of said plurality of processing circuit sets is further configured for parallel access to said stored plurality of data values during image generation.