I dream of the day when we will have a lot of options for small specialty digital cameras. You see a small trickle of them coming out(Ricoh GR, Fuji X100s, Sigma DP2), but no where near as many as in the old film days.
I could never imagine someone taking on this as a DIY project. I think it was a really cool decision to take a Sony NEX's components, which I always thought were lacking in ergonomics, and give it the feel of a classic rangefinder.
So, from my understanding, the camera you have currently only works in bulb mode. It would be interesting to see a post as to how you would even begin to tackle getting a predetermined shutter speed to work. Also more sample images would be great as well.