University Looking to Update Old Hardware

I have seen too many 'electrical engineers' in recent years that have gone thru a four year degree program and have never learned how to connect an oscilloscope or logic analyzer to circuitry and then analyze and debug it. There is no substitute for beginners to have hands on to basic logic in the lab with simple to analyze devices (like 74xx stuff) and be able to physically probe it. Just wiring a bunch of devices via SPI or I2C and then turning the exercise into a software development project is not sufficient.

I agree with the OP that there is more than enough time in an advanced lab or project course to dive into a complex FPGA, DSP, or SOC project. But you need the basics first, and preferably in the lab where you generate and analyze the causes of magic smoke emission. And learn how to not ever do it again.