This paper presents a Spatialized Audio Multiparty Tele- conferencing (SAMT) system with a radically new communication experience for group teleconferencing. The system includes our recently developed 3D audio technologies: 3D sound source localization (SSL) and 3D audio capture and reproduction using a low-cost and compact design micro- phone array. In essence, the SAMT system offers 3D audio capture capability and spatial audio perception with multiple participants at a site, which still falls short in teleconferencing solutions. In addition to being able to identify and automatically track the active speaker, the system allows more compelling visual presentation for effective communication. Requiring only a low-cost microphone array and a consumer depth camera, the proposed system runs reliably and comfortably in real time on a commodity laptop or desk- Top PC. With such a minimal deployment requirement, we present a variety of user experiences created by SAMT.