Absolutely electrosys, I was planning on using something like LCD Smartie and from looking around possibly something like VSPE (Virtual Serial Port Emulator) to send the traffic that would normally go to a serial port
It kind of depends on which one would work best I suppose, I then need to somehow get that signal back from the network to the arduino and out to an LCD
Hooking up the LCD seems to be dead simple from looking at lots of online guides.
Going from the ethernet to the Arduino seems to be the harder part (I think) there is a great guide on instructables for a credit card sized ethernet arduino though that I found the other day which is looking promising 