Here is a personal project that I've been working on which might be of interest.
I wanted to see what was feasible in the way of a very-low-cost ARM board. OK, that doesn't sound original, but stick with me.
The solutions that I've seen (Tweeny, McHck, mbed, etc.) are limited to wholesale firmware updates. Press a button, download a new image, and see if it works.
I wanted to implement an integrated CMSIS-DAP debugger (ARM standard that is compatible with multiple OSes). That way, one can do everything from flash updates to single-step debugging.
The brute-force solution would be to plop two ARMs on a board, where one has USB capability and acts as the debugger.
However, that gets pricey. Atmel, for example, is using an AVR32 on their Xplained boards in a debugger role to shave costs, but the AVR32 isn't exactly a dirt cheap chip either.
Instead, what I did was use a PIC... a PIC16F1454 to be precise. It costs $1.25US in single quantity and goes below a US dollar in 1k+ quantity. Plus, it doesn't need an oscillator (further lowering total BOM costs).
The firmware solution consists of two halves.
The first is a USB bootloader that also doubles as a USB-to-UART bridge (thereby also saving the cost of a FTDI chip or equivalent).
I've published the code (including patches to the Microchip USB Framework) here:
https://code.google.com/p/pic16f1454-bootloader/The bootloader lets one download an application into the second half of the PIC's flash.
For a sample app, I've managed to write a CMSIS-DAP implementation that fits entirely in 4kwords of the PIC16F1454's memory.
One of the ARM targets that I've tested it with is a NXP LPC812 (Cortex-M0+), which is a another <$1US CPU.
So, with two $1 chips, a USB connector, an LDO, and some passives, one has a complete development board with integrated debugger.
I've attached a picture of a sample PCB I did through OSH Park.