Hi,
Anyone heard of the Stellaris micro
http://www.luminarymicro.com/products/lm3s6965_ethernet_evaluation_kit.html
It a 69$ Micro controler board with
50MhZ
250KB Flash
64K Ram
-OLED Display 128x64 16 shade of gray
-Ethernet 10/100
-SD CARD (micro)
-4x 10 bit ADC
-6x PWM output
-2x Quadrature input encoder
-Up to 42 general I/O (5V)
-User LED
-5 Push button (direction and select)
-1 Speaker
-3 USART Serial Port
I've heard of it. I have the older LM3S811-based eval board.
Luminary was the first vendor to offer ARM Cortex-M3 based chips, and is determinedly attacking the "microcontroller" space with their products, which go down to a $2 28-pin device. They also deserve a certain amount of credit for the current crop of inexpensive high-function eval boards. When they first appeared, all they offered were some expensive ($250) "development kits" that a lot of people thought were pretty overpriced for a vendor claiming to go after the lower end of the ARM market.
An ARM-uino would be interesting. In particular, the current state of development tools for M3 is pretty confusing; it'd be really nice to have an all-in-one multi-platform suite like arduino that would get you started all at once. But it would be difficult, too. One vendor already has introduced an arduino-formfactor ARM board (based on STM32 rather than Luminary):
http://www.arduino.cc/cgi-bin/yabb2/YaBB.pl?num=1227128468
They got rather beaten up on software incompatibility issues...
The specs are impressive for such a low cost board. It makes me wonder if you could run Linux on these boards to give us a full TCP/IP stack and a full featured web server.
Linux generally take MUCH more RAM, and I don't think the Luminary parts have external ram.
For a low-cost board that IS capable of running linux, see the "Beagleboard" from digikey for $149:
ARM Cortex A8 running at 600MHz (1200 DMIPS)
2D/3D Graphics accelerator.
DSP
128MB RAM (2000 times as much as the Luminary.)
256MB Flash (1000 times as much as the Luminary.)
USB-powered, about 3x3 inches.
http://beagleboard.org/
(Of course, for $149 you can also buy a old P3 or P4 system capable of running linux...)