Interesting,
I've been working on something just like this for a little while, so I'm glad to see some more vindication that there is a need for it.
What I've been doing is using a Teensy3.1 which is a really nice little 32-bit controller. It communicates with Pixhawk over I2C, it's almost working now. Obviously I2C isn't a great physical layer to use, but it was easy to implement and hardware is available today. Ideally, CAN would make more sense, but there is not easy to use and small hardware available. You can pretty much find easy, or small, but not both together on the market at this point.
I had been planning on 4 rpm channels, 2 temp channels, 2 fuel level channels. More voltages, etc. would be easy to add. The Teensy has a ton of inputs.
MAVlink over serial would be possible, and would even run on this board, but I don't know how to use that protocol at this point.