FYI, I'm going to try my luck with the $17 serial board:
http://www.nkcelectronics.com/arduin...omplete-k.html
It will interface with the palm without any adapters and can shave $14 off of V1 by not requiring a $7 daughterboard for serial. It should also be capable of standalone LCD operation also, though you will need an available serial port to program it and the palm pilot.