BTW, I'm pretty sure when they talk about Rotary Encoder support, they are talking about potentiometers (the three types probably means linear, audio, or . . .?), so it won't replace Druin's Interface board, but a very cool product.
I don't think so.* My guess is they mean incremental (aka relative, aka quadrature, aka mouse encoder wheel), pseudo-absolute (720 - skate or die controller may be one example), and absolute (astronomy telescope rotation motors often have this).
Googling I got
this page with a basic overview of these encoders, except it groups the pseudo into the relative group. A while ago I found better info (where I got the groups I listed), but now can't remember what words I searched for.

edit: Further searching, and I still can't find the pages I remember, but maybe this page is right with "pseudo-analog" grouped as part of relative, and the third version "speed and direction". Either that "interpolation" at the bottom of
this page.
Anyway, if what I think they mean is true, that would be really cool. Is anyone going to try to do a review?
Edit:* Looks like the
lite version can do the encoders I taked about (it mentions "13-Bit Absolute Encoder support", but the "full" version only talks about "Mechanical Rotary Encoder support". Hmm, the lite is better than the full version in a few areas:
Lite = 10-bits per axis, full = 8 bits, Lite = "Full Speed USB", full = "Low Speed USB", and the rotary encoder stuff.
Of course there's the 8 vs 16 axis, and 24 vs 60 buttons that favor the full version.
