Yes... it should just be a matter of adding a field to store the digital goods location to the products database, then adding an upload field to the products insert/update page in the admin so that you can upload the digital good associated with the product being purchased.
You would probably have to get into the code if you wanted digital goods to work with options, since a lot of the options handling is hand-coded, but if you don't need options for digital goods you can probably do it all from the insert/update server behaviors.
You would want to make sure to upload the digital goods to a folder above the site root so that people couldn't download the images without a purchase.
Then you would be able to add download links based on the digital good purchased on the receipt and/or order history pages when that product is purchased.
