AeroProf -sorry for my slow follow up, I am on GMT, and had other things to do, like sleep :-)
The lamb wave frequency I'd want to measure would be on the order of 25-250 kHz. I wouldn't monitor the structure continuously, only when I need to interrogate the health of it - so storing a second or two of data for further processing is fine if real time transmission isn't possible.
These frequencies are completely beyond an Arduino. You'd need external hardware, and IMHO would really struggle to do anything with the data.
I believe a reasonable assumption is capture at least 10 samples of a wave cycle to have a decent chance of doing anything with it (Nyquist–Shannon sampling theorem http://en.wikipedia.org/wiki/Nyquist–Shannon_sampling_theorem is a theoretical limit)
So if you want to handle 250KHz, you should aim to sample at 2.5Msamples/second or more.
A pair of ADC's on a Maple can run in an 'interleaved' mode, each alternately sampling the same input signal, to give double the sample rate, but even then, it is a bit slow. But you could certainly get started with Maple.
For your 'production system' I'd recommend you consider the significantly faster STM32F4 MCU.
It has 3 ADC's, each runs at 2.4Msamples/second, and all three can sample the same signal in an interleaved mode, giving a theoretical 7.2Msamples/second, so you'd have a bit of headroom. The processor runs at 168MHz, and has hardware floating point, making it easier to write processing and analysis code. It also has 192KBytes of RAM, which would be handy for buffering data. It has dual Digital to Analogue Converters (DACs), so you might be able to do some experiments using them to generate your pulses. MCU's in the STM32F4 families come in versions which can support High-Speed USB or Ethernet which might be just about (theoretically) quick enough to get the data off in real time (though IMHO hard to do in practice).
There is a very low-cost development board using a member of that STM32F4 processor family available at the moment:
http://www2.mouser.com/ProductDetail/STMicroelectronics/STM32F4DISCOVERY/?qs=J2qbEwLrpCGdWLY96ibNeQ%3d%3d
It is about $18 because it is an ST development board to promote the MCU. Don't expect this to be available at this price forever, but it is a cheap, extremely powerful piece of hardware to get off the ground.
To reach these sorts of performance levels, you will need to program straight to the hardware for some functions. For those things, the libraries will slow things down too much. You'll still be programming in C/C++, but will need to read the manuals for the hardware. Having set your expectation, I think you could do initial experiments, and start to really understand how to tackle the problems with higher level libraries.
I have recently being doing some research on ultrasonic transmission & reception (though nothing implemented yet). In my reading, it is useful to have quit a lot of flexibility over the transmitted wave. So I'd likely try to use the on-board DAC's.
IMHO the MCP4725 external DAC is likely too slow to generate a good quality 'excitation' wave.
http://www.sparkfun.com/products/8736
It is 12 bit, and only 3.4Mbps interface, so it would appear to be a little under 300ksamples/second which even at the Nyquist–Shannon sampling theorem limit is only a 150KHz signal. IMHO, you might as well use a Maple RET6, Maple Native or STM32F4 DAC. The AD9835 signal generator appears to be more useful, though I have barely glanced at the datasheet.
A lot of this is quite sophisticated software. Have you a strong programming and signal processing background?