Looks good, I've backed it for use with my new Hummingboard (also on order) to try in a little RC Plane project
The Pi (or alternative) will need a Real-Time kernel for this kind of use, and as for the software for controlling whatever RC vehicle this is in, that could be interesting - maybe a fork of ArduPilot would do it with a few modifications? (there is already a Linux fork designed to run on the BeagleBone, and several kernel modules/drivers for sensors similar to those used with NAVIO).
Anyway, looking forward to having a play around with this!