This project is very interesting and nice to see someone going forth with it.
Originally Posted by alexh
The size of the design and the cost of the FPGA's will make it prohibitively expensive unless he can raise the capital to go down the ASIC route.
You think it'll be that cost prohibitive using FPGAs? The Spartan-3 starter kit is around $100. Most users don't need to have development capabilities, which will reduce cost. I imagine Dennis is just doing it as a hobby and doesn't have any current plans to market it.
AlexH -- please let me know if he ever respond to your Verilog debugging inquiry. I'm in the same field of work.