Solarwind, if you want more ideas, take a look at what commercial cycle
computers offers (surely you did it before):
http://www.chainreactioncycles.com/Categories.aspx?CategoryID=250

I like this project. I also ride a MTB from 20 years ago and it is a very
interesting diy project.
* One point, a normal 2x16LCD (with all other electronics) is too big to
mount in a handlebar, it is going to be non practical. May be a smaller one?
A mobile phone one?
* Another, have you think in making it smd or dip? That's a good project to
start smd if you never did before. Size matters.
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