drillsar: This project is a standalone controller that does not require an arduino. All necessary hardware is built on the board, including ethernet. The good thing is that it is based on the arduino and has all the pinouts as headers on the board which allows you to easily hook up many different things such as a temp sensor or in this case, an ORP sensor.
If you went with one of those ORP shields, you would just connect it to the hydra.
As for cost, if you just want a basic controller then you may be better served to buy a reefkeeper lite or similar, however they do not have ethernet.
If you want a full functional controller with the ability to add nearly any option you could want for roughly $200 to $2000 less than the commercial equivalent, then the hydra may be an option. The hydra itself is roughly $90 or so complete with LCD/board/everything. Then you have temp sensors, ph probe, and a relay board option. I believe I'm in roughly $175 give or take for everything needed.
Keep in mind though this project is not extremely easy, especially in it's current state. It will take time and work to have a fully functional controller. Even when in a proper state, the project still won't be "extremely" easy. It will be a project that if you can solder, you can have a basic functional controller. From there it will be up to you to go over examples of what other people have done to assemble various equipment and to program the controller for the equipment. It will be a good project for anyone that doesn't mind learning something new and saving a good bit of money in the process.