Just to add, the Raspberry Pi would be basically the worst choice for this. You need something that can handle real time tasks, which Linux (barring something with Real Time extensions) isn't good at. The first time a background process does *anything* you're going to miss an incoming pulse or have the PWM start skipping, which will cause your engine to lose power, miss, etc.,.
Also, Arduino isn't a good fit for this either considering the harsh conditions of living in a car (heat, cold, humidity, voltage spikes, noise which also applies to the RPi above). You'd also have to hand code all the interrupts and subroutines so you might as well just use a straight up AVR as the Arduino Libraries would be basically useless.
If anyone was thinking about this, I'd recommend something like a TI Hercules Safety MCU or similar (which is designed for mission critical applications, like automotive or medical) combined with a safety RTOS.