You may find the Raspberry PI to be somewhat under powered for such a venture. You COULD grab a higher end ARM based board that would do a much better job while still staying low energy.
Freescale (Now owned by NXP) has some development boards that can be useful. While most of these have the 2515 Canbus chips onboard they also have SPI and other interfaces available to be able to connect to a device such as the M2 and other devices. You COULD actually connect an M2 as a serial device to one of these boards as well. A number of these boards are available with such items as built in 3d graphics accelerator, 1g lan networking, up to 4gig ram, Sata connector etc. These are SIGNIFICANTLY more powerful than a RPI and are the basis for the new Cadillac VUE system which has surround video on some models as well as many other features you will find the RPI under powered for.
I have MX6 and MX5 boards in my possession and they smoke the RPI… Cost a little more but depending on how built out you want them they can do a considerable amount.
I personally have 3 of these boards:
If you look on their site they have a number of other products that are much more powerful. I assure you that you won’t regret using them. I plan to use up all of my current cards in projects.