It doesn’t out-of-the-box. But it’s probably doable with some customization. I don’t know how much and frankly am trying to figure it out myself. Some time in the not too distant future I hope to have clear picture of how to get privileges customized in Magento.
Well we’ve taken the plunge and installed Magento and will begin prototyping shortly. When you do make some inroads on this issue it would be great if you could contact me outlining your approach. If your interested I can do the same.