Hey fellas, I was impressed with an experiment we did at lab using strain gauges and thought I might build my own scale using an Arduino and a strain gauge attached to some type of beam. Basically like all the electronic scales are made, just at home. I'd need to do some more reading on the type of hardware that is used in a strain gauge meter, but do you guys think that an Arduino ATMega 328 (using serial port) has enough hardware on it to measure resistance very accurately? Just throwing this out here, not 100% sure if will do this. 
Depends on what exactly you mean with "very accurately" and if you are willing to add some external components. If you are already in an lab environment, then maybe you are alrady with the notion of datasheets. That's the place to look:
Cheers, Udo
There is a project exactly like this one at NerdKits - Digital Scale Strain Gauge Weight Sensor.
The NerdKits don't use the Arduino style of software, but it shows that even a lowly Atmega168 is enough of a processor to use in a project like this.
Thanks for the replies guys. Looks like someone beat me to it already. 