Lego Rotation Sensor for exercise machine?

Hi, I have a newbee question here... :)
A friend of mine wants to use a Lego Rotation Sensor to monitor the rotational
motion of a riding bicycle's main axle.
I was wondering if anyone here has tried using a hacked Lego Rotation Sensor for a non-Lego application like this?
He is also considering using a modified mechanical mouse (internals) to sense the rotational motion of the crank shaft (pedal rotation angle and rate).
And finally, this system of rotation sensors needs to be hooked up to a PC's USB port, so he must write a custom USB driver for this invention...
Thanks in advance for any ideas ;)
~MV
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Yes, everything you say is possible but using a few magnet and a Hall effect transducer wired to the parallel port would be a lot simpler and cheaper.
Jay
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