Honestly, I think some more real-day design projects would be better IMOHO.
I don't really feel that attracted to the idea of a multimeter, it's not something many people will be going on to develop.
I'd say there is a lot more electronics interest around:
3D printers / stepper motor drives / controllers
Coil accelerators ('coilguns')
smaller and fancy Tesla coils (some of the newer designs even have FPGAs in them!!!)
Robotics (robot arms, wireless controlled vehicles)
Electric Vehicle projects (or even a brushless motor controller? Do something on control theory?)