There are some real life blind folks who've adapted to using hearing as a way of getting around that they're able to function just about as well as a sighted person. They can walk around and avoid objects without a cane or a dog or any kind of aid just by listening to how sound bounces off of the objects around them. They can even play video games if the game in question has sufficient sound cues for every action (which a lot of them do these days). These people are very rare, granted, and they exist at a special intersection of skill, determination, and natural in born talents and unusually acute senses, but they do happen, and I think they should model what Daredevil is capable of on folks like them.
http://en.wikipedia.org/wiki/Human_echolocation
Ben Underwood (who sadly passed away in 2009 from the cancer that took his sight) is a perfect example of what is technically possible, albeit very rare and quite exceptional, for the visually handicapped:
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