Makes total sense if it provides enough bandwidth. There are some other options that are based off of the FX2 USB2.0 chip that are common in low cost ($10) 8ch 25MHZ logic analyzers as well. As you said it's a block with a few input pins, FIFO, and a usb interface, so if it works, sounds good.
Well, I just discovered that although the FT246 claims to be USB 2.0, it does not support high speed. Only 12Mbps (full speed). So that would be a bad choice.
The problem is that in the context of the OS instrumentation call-outs, we can do no driver operations. With the FT245R, it could do writes to a memory-mapped FIFO. Most of the FX2LP modes are more complex. There is a slave FIFO, but I don't fully understand that yet.
