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Re:Raspberry Pi $25 PC goes into alpha production by JonnieCache on Saturday July 30, 2011 @05:56AM (#2825405)
I the comments section of the FAQ, one of the team says:

"We haven’t made a decision on open hardware yet. We have SPI, I2C, UART and a fair bit of GPIO at 3.3V if you want to do interfacing."

http://www.raspberrypi.org/?page_id=8#comment-89

So it sounds like it has as much I/O as you're going to need for embedded funtimes.

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