Wow, im starting to love this website already! Thanks for all of the replys I will try to respond to all of the questions and sugguestions.
The level shifter I was going to use for my prototype and then once I have everything working on breadboard I am going to get a nice little PCB made that should just clip onto the GPIO of the RPi and a a ribbon cable up to the Driver board.
www.adafruit.com/products/757The driver board is using 5V logic and the RPi uses 3.3V logic.
I was looking at pulling teh +5v from the driver board on the printer but the switching regulator looks to be limited to 300 or 600mA as it is controlled by a LM2841 so drawing the power from the driver board is a no go.
So my idea was to tap into the back of the power switch and grab 12V from there and either use one of these and solder the 5V feed onto the PCB that I am going to create but I will need a protection curcuit on the board I am going to make as the GPIO lines feed directly into the Pi and bypass all of the fuses and filter caps that it would go through if you power it from the micro USB.
The other option was to copy the switching regulator design from the driver board and implement it on my PCB that will clip to the Pi that way you can take the 12V feed directly from the Power switch and solder direct to my PCB.
I will put something together in Eagle tonight and post it up here so you have a better Idea of what I am trying to achieve.
I have attached the switching regulator design from the driver board and also a photo of one of the Beta Printers, I am still waiting for mine to arrive but it should be here by the end of July.
As for overloading the PSU I dont think it will be to much of an issue as the spec advises that you will get a 60Watt version with the printer I have ordered and a 120Watt version with the version with the heated bed.
So worst case is I could upgrade the PSU to one that comes with a heated bed.