My MS3X was the kit one and I built it. I'm not sure my eyes would allow that now... lol. I've never looked into the arduino products, but I will now. I'd love to have more engine data such as oil temp, and my second O2, but what I really want is my 3 axis G meter (3 inputs). I found one from an electronics supplier for like $20 and a small plastic box for it. I'd just mount it in the box and fill with some potting compound to make sure its solid. I'm sure its the same thing all the big names offer in a fancy box and charge hundreds.
One thing I like about the Holley product is their I/O can be assigned to either input or output. And, I think analog/digital. Not sure how accurate that part is.