I'm thinking about running a full node on Raspberry Pi with a web interface that looks like blockchain or Coinbase so that you could have a 'home server' that was secure and that supported the network. With so many thin clients running we're really losing a lot of Nodes.
It plainly won't work on Pi. Even if it would sync eventually, it would be so slow that it'd provide no added value to your nor to the network. Just stop dreaming and build yourself $150 celeron miniitx system + some > 100GB HDD from drawer. It would also easily support additional p2p goodies you'll want to try some other day.
For example I'm using this one as all-in-one bitcoind, electrum server, litecoind, freenet, home router, print server, anything:
http://www.mini-itx.com/store/~GA-C847N