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You could definatly implement some 7 segment LEDs to run a simple gauge.
I'm actually deciding between using a 40x4 LCD, and 4 7segment LEDs. I dont know if I want to see it all (40x4) or just some of it (7 segments).
There are nice 4 7 segment LED i2c controllers that would cleanup a lot of the wiring (at least off load it).
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