From what little I understand of this, isn't the iFly700 also working on this in a future update; or am I completely confused here? A lot of this is totally greek to me other than the fact that it will be great to have free traffic and wx.
Yes they are, but the iFLY will really only act as a display for an ADSB receiver. As the display is a bit weak in sunlight it probably isn't the optimal answer. Good thing about iFLY is that the owners are very flexible with their product and are working on weather, traffic and a 2nd gen display. It doesn't hurt that they also believe in reasonable pricing.