I had to compare your product with a similar offering from Adafruit http://www.adafruit.com/products/772 Your’s is about $5 cheaper, but the Adafruit only needs TWO pins to do everything since they include a built in I2C I/O expander to do the dirty work. Both ways work, and your’s might be a bit easier to program as you don’t have to mess with the I2C driver library. In anycase it’s nice to have a choice!
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