Idea: incorporate the novel concept of the classic pixie design with a modern take, and make it an sdr front end. For those of you unfamiliar with the pixie, here's a schematic.

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The unique design of the pixie is it uses one active device (transistor) as both input stage and output amplifier. When the key is pressed, the input transistor is biased fully on, generating cw.

By using the lm386 as a modulator rather than an audio speaker driver, we can modulate the final transistor. By adding two stages we can modulate and receive I and Q signals.

Click image for larger version. 

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I'd like to make this as small as possible, integrating with a 4.0 attached to an audio card. Because the audio card has a headphone port and mic as well as stereo i/o, it seems a natural fit for a complete transceiver.