Rotary Magnetic Encoder V1.0

I have received my 6 bare circuit boards from Maker Bot. At 2 dollars each I could not pass them up. They offer 10 bit resolution from a pre-programmed chip.
 I chose the V1.0 boards because Maker bot printed it with all the pins brought to the connector and 3 ways to get the data out. It use the AS5040 rotary encoder chip from http://www.austriamicrosystems.com/

Bare Board from Maker Bot

Board with components soldered on.
Yes that's hand soldering on the 16pin SSOP chip. The
wires are jut temporary until the headers arrive.