Does reactive extensions support rolling buffers?

This is possible by combining the built-in Window and Throttle methods of Observable. First, let's solve the simpler problem where we ignore the maximum count condition:

public static IObservable<IList<T>> BufferUntilInactive<T>(this IObservable<T> stream, TimeSpan delay)
{
    var closes = stream.Throttle(delay);
    return stream.Window(() => closes).SelectMany(window => window.ToList());
}

The powerful Window method did the heavy lifting. Now it's easy enough to see how to add a maximum count:

public static IObservable<IList<T>> BufferUntilInactive<T>(this IObservable<T> stream, TimeSpan delay, Int32? max=null)
{
    var closes = stream.Throttle(delay);
    if (max != null)
    {
        var overflows = stream.Where((x,index) => index+1>=max);
        closes = closes.Merge(overflows);
    }
    return stream.Window(() => closes).SelectMany(window => window.ToList());
}

I'll write a post explaining this on my blog. https://gist.github.com/2244036

Documentation for the Window method:

• http://leecampbell.blogspot.co.uk/2011/03/rx-part-9join-window-buffer-and-group.html
• http://enumeratethis.com/2011/07/26/financial-charts-reactive-extensions/

I wrote an extension to do most of what you're after - BufferWithInactivity.

Here it is:

public static IObservable<IEnumerable<T>> BufferWithInactivity<T>(
    this IObservable<T> source,
    TimeSpan inactivity,
    int maximumBufferSize)
{
    return Observable.Create<IEnumerable<T>>(o =>
    {
        var gate = new object();
        var buffer = new List<T>();
        var mutable = new SerialDisposable();
        var subscription = (IDisposable)null;
        var scheduler = Scheduler.ThreadPool;

        Action dump = () =>
        {
            var bts = buffer.ToArray();
            buffer = new List<T>();
            if (o != null)
            {
                o.OnNext(bts);
            }
        };

        Action dispose = () =>
        {
            if (subscription != null)
            {
                subscription.Dispose();
            }
            mutable.Dispose();
        };

        Action<Action<IObserver<IEnumerable<T>>>> onErrorOrCompleted =
            onAction =>
            {
                lock (gate)
                {
                    dispose();
                    dump();
                    if (o != null)
                    {
                        onAction(o);
                    }
                }
            };

        Action<Exception> onError = ex =>
            onErrorOrCompleted(x => x.OnError(ex));

        Action onCompleted = () => onErrorOrCompleted(x => x.OnCompleted());

        Action<T> onNext = t =>
        {
            lock (gate)
            {
                buffer.Add(t);
                if (buffer.Count == maximumBufferSize)
                {
                    dump();
                    mutable.Disposable = Disposable.Empty;
                }
                else
                {
                    mutable.Disposable = scheduler.Schedule(inactivity, () =>
                    {
                        lock (gate)
                        {
                            dump();
                        }
                    });
                }
            }
        };

        subscription =
            source
                .ObserveOn(scheduler)
                .Subscribe(onNext, onError, onCompleted);

        return () =>
        {
            lock (gate)
            {
                o = null;
                dispose();
            }
        };
    });
}