Yes you can run/send out surveys on any object and report in it using SSRS.
Although I have not done it I think it would be possible to link in the survey result objects in the same way incident has it, just remember that the core survey objects are not true HEAT objects so things like business rules will not run on them. Try adding relationships exactly the same as in Incident to FRS)SurveyResults and FRS_SurveySession, they are linked on RecID to the parent object in your case Release. In your survey email update the url that it calls and change the RecID for the Incident to the Release record.
Change this bit to be release and make it the release record RecID
I think that should work.
Thank you Alasdair! I'll give that a go-
Follow-up question: can a survey for a single record go to multiple respondents? Put another way, can the survey process handle several responses to a single survey?
No it is one respondent per survey, once the survey is complete it cannot be edited, so the link can be sent to many recipients but only one set of responses would be captured per Survey.
As far as I can tell you can only use a survey once against an object record but I have not played with this much.