The guy who runs that project is editor in chief of Wired Magazine, and they've done some pretty incredible things. Check out the BlimpDuino for an example-- a fully autonomous helium blimp, with thrust vectoring on two axes and the ability to follow waypoints and find IR beacons.
The ArduPilot Pro, on the same site, integrates full attitude control and stability (4 channels, I believe) with two CPUs, but it's not as far along as the ArduPilot, which is nearly in production.
They recommend the FMA Co-Pilot for stability control, but I'm not familiar with it. YMMV.
Originally Posted by vintage1
Now we are talking..I wasn't aware that work had progessed that far....
If that module can control a rudder, and throttle, then a gyro for the elevator and ailerons should keep all steady enough.