I tried something like this earlier this year with STP. It got rave reviews (from my mother), so I figured I try it again.
Below is a list of requirements for configuring a router as a call processor. In a lab or in your head, configure the router to support the features as listed. This isn’t a contest or anything like that. If you get it right, a virtual thumbs up is all I can afford to give you. There are some licensing issues for running this stuff in GNS3/dynamips, so I can’t help you out on that. I’ll just hint that GNS3 and dynamips will bind to real networks and that copies of a compatible IP softphone are available.