Wow wasn't sure if I would even get a response seeing as the thread had been silent for a while.

CrossRoads Ive already got a board layout that id like to adapt from the magnetic rotary encoder v2.1
http://wiki.makerbot.com/mre2 (but im not yet bound to this)
Im good at the mechanical side of putting things together with a steady hand but pretty slow in figuring out if a circuit is any good. It would be great if that same layout works probably with different cap/resistor values or maybe I can get away with it like it is just that I have no idea really. The files are all on the google code page for the version 2.1 perhaps they are easy enough to edit for the as5048b.
What I find really nice about this board is that it can be programmed using the i2c. ideally Id be looking at setting it up with the option to daisy chain it for a robotic arm/leg positions to drive rather hefty motors. id also be using them for my robot gimbals like the following video. But Id also like to try one the 4th axis of my milling machine.
http://adamdonovan.net/works/soundlens%20Adam%20Donovan.html