The original Red Pitaya is a powerful piece of hardware that can act as a dual-channel oscilloscope or spectrum analyser, signal generator, 8-channel logic analyser, LCR meter, vector network analyser and much more. It has no problem working as a dual-RX dual-TX DDC/DUC HF+6m transceiver and there is even a project for a full featured final product in the works, called the Red Pitaya Hamlab.
It can do all these thanks to the fast 14-bit 125Msps dual-ADC, matching dual-DAC and powerful onboard FPGA, but mostly because there is a strong software development effort behind it. Most of the team was working on high-performance test instrumentation for particle accelerators before Red Pitaya, so they must know what they're doing.
Anyway, back to the new models: the first 3 of them use a more affordable version of the Red Pitaya original board, that has the 14-bit ADC replaced with a 10-bit one. They seem to be aimed at the educational enviroment where functionality and pricing is more important than performance. The naming scheme is intuitive, so here it goes:
|Red Pitaya STEMlab 125-10 Starter Kit|