Looks awesome. So far you've replicated what can be done with an off-the-shelf part like this:

http://hobbyking.com/hobbyking/store/__24758__F_TEK_30A_Fixe...

But you have full control of the programming and have the communications problem solved as well. It would be great to have open hardware to replace some of these parts in-plane just like OpenTX now replaces the software in the ground transmitters:

http://www.open-tx.org/