I would like to go with the 7 segment display. Ill probably also do another version with a parallel lcd just for the experience. Is the MAX7219 chip in your link the exact one I need, or is there a small one I can use?

 

That's the one you need. They can run up to 8 digits, but you'll only need 4 to go with the 4 digit LED that I showed. They are easy to hook-up and require only 1 resistor and bypass capacitor plus 3 I/O from the PICAXE.

In a week or two I'll have something along the lines of a tutorial up on the website with PICAXE code.

 

That would be very helpful. Ill probably order the parts tonight.

 

Am I able to use a 3 digit display as long it is common cathode?

 

Yes, you could use 3 digits. I think the fourth digit would be useful for status and information though. The MAX7219 let's you manipulate any segment you want, or display decimal coded digits.

We have a little tutorial up on our site now that goes into how to use it with a PICAXE and provides a schematic and a code template here

 

I should be receiving the parts in a day or two. Ill test out and post back with the results.