Ike,
Great to hear that you are already thinking about TTL on the D70. Last week in Cozumel it would have been great to have switching between fish on the sandy bottom and dark coral.
I really like the convienience of the control you implemented on the drebel housing. The ideal would be to control FEC from there the way the SB800 controlls FEC by communicating with the camera rather than converting the flash output. One advantage to this would be that data for FEC would then appear in the XEIF for those of us still in training.
I don't think my housing has a lever for the FEC. Perhaps my early edition of the D70 housing did not have this control? It does have one for exposure compensation but not FEC/popup flash button. You change FEC by hitting the popup flash button and rotating the main command dial. If it does not detect the SB800 it pops up the internal flash. (BTW if the SB800 is switched off by accident it will also pop up the internal flash). So this two button combination would not be as easy as your drebel implementation, which is more like the SB800.