I am thinking of using a Raspberry Pi as the basis of an electronics project that I am working on, and plan to eventually sell to the public. I want to use the Raspberry Pi in order to reduce the development time and development complexity of the device. As a general statement am I better off taking the time, developing an ARM based system that runs Android, or should I just use the Raspberry Pi?
I would probably say that the Raspberry Pi would be great to test everything and make sure your project will work. Of course, nothing's stopping you from using it too but if you want to sell to the public, the Raspberry Pi might be hard to get enough of. Plus, it would probably cost more because of the added functionality you won't need, and not fit an ideal form factor for your project. You would have to design your project around the computer controlling it (Raspberry Pi) instead of the other way around.
It would help a little more if we knew the nature of your project, but I understand that may be confidential.
If you are looking for an ARM SoC, you could take a look at ARM PSoC5 from cypress, http://www.cypress.com/?id=2233 . They have a nice IDE, it comes with GCC compiler. They can have some EMI sensibility problems, i have tested it with a nonstandard test. Good luck with your project!