Considering the Phidgets SBC2
is an arm9 (arm920t) based computer, which is in the Arm9E family, and that is an ARMv5 architecture.
The raspberry pi is an arm11-based soc
(ARM1176JZFS) based computer, which is in the arm11 family, and that is an ARMv6 architecture.
The Armv6 architecture
says that Armv6 includes Armv5 compliant memory and exception handling, supporting the reuse of existing software and design experience. I'm hoping that means that they're backwards compatible, even though Arm's later architectures aren't meant to replace earlier architectures.
You know, the only way to find out is to try, I think. I'm still waiting for my raspberry pi, so I can't. Considering phidgets provides the source for their drivers, it might be as simple as a recompile. At least that's what I hope.
I also hope that the raspberry pi will drive prices down in other SBCs, like the phidgets SBC. I mean, it's close to 10 times more expensive than the raspberry pi! Of course all of phidgets' stuff seems overpriced to me.