I just wanted to share my results of trying to build a DIY flight controller based on timecop's STM32 mini development board (http://abusemark.com/store/index.php?main_page=product_info&cPath=5&products_id=40).
The IMU is an MPU-6050-based sensor board from Drotek with MS5611 Baro and HMC5883L Magnetometer (http://www.drotek.fr/shop/en/62-imu-10dof-mpu6050-hmc5883-ms5611.html).
You can find the necessary code changes to baseflight for changing the sensor alignment via CLI in my github repo (https://github.com/fiendie/baseflight/tree/master) but they should find their way to the main codebase pretty soon.
The rest of the components:
* HobbyKing F-20A ESCs with SimonK firmware
* Suppo 2208/17 motors
* GemFan 8"x4.5 props
* FrSky DX8 SP receiver
A short video of the first flight with near default settings.
I just trimmed up P for Pitch and Roll to 7.0, Throttle Expo to 0.40, Roll/Pitch Rate to 0.5 and RC Rate to 1.0:
http://www.youtube.com/watch?v=KXYMSUMkIAo
Please excuse the overall mess in my living room

Photos of the board and the whole copter:

