I can see this being an improvement for some, for some bikes. But these machines are some of them now 40 years old and some of them will be on the road 40 years from now. So as all electronics go, what do I do when this unit is not working? How long before the first problems, before total failure? Do I now have something that can't be repaired, I would replace it but they don't make them anymore?
I think you are striving for a pretty complete redo? How about a smaller unit that only does something that's a current problem, like lights, turn signals and all?