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In the Qsys preview, "Conduit" interfaces show up in the GUI and you can connect them in the connection area similar to how Avalon interfaces are connected in SOPC builder.
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I tried that, it is not straightforward to build a component using conduits, as the tool mixes it all up, and generates a lot of errors when trying to generate a small design. Maybe the official release will do better, and have the appropriate help-file.
If you connect 2 conduit interfaces together in the main QSys window, how does it know which signals to connect to each other? In the component editor you can only 'export' the signals and not assign any functionality to them other than in- or out-put. Maybe I have to try and 'fake' an ST-interface, as QSys handles that perfectly, of course.
I have an additional question/observation. I imagine once you have 20 or more components and more than 2 paths in the design, that the connection diagram in the SOPC/QSys window gets difficult to read. I know that some people do not think high of schematics, but it would be a better candidate to represent complex designs.
28nov10: I took the one-hour on-line "Using SOPC Builder" training and that cleared out a lot of things.