Projects like this are a great way to train new engineers for small embedded systems. There is a lot of work out there on 8-bit systems with a couple k of program space and a few hundred bytes of ram. At my place we actively collect books that targeted advanced computer programming techniques in the early 80's, because they line up good with the resources we typically have on a microcontroller that costs $1.27 now .
For example, given a 128x96 black and white LCD, create an algorithm that will draw a line between any two points. Oh, and you can only use integer math, and we'd prefer it if you kept division operations to a minimum, because we have to do division through a software library call...
The old-timers did that stuff in their spare time 30 years ago.