[ladyada] has republished an interesting snippet from the synthDIY mailing list. [David Dixon] discusses the actual chemistry behind ferric chloride based home circuit board etching. He concludes that ferric chloride is essentially a ‘one-shot’ oxidant. It can’t be regenerated and can be difficult to dispose of properly. The use of acidified copper chloride is a much better path and becomes more effective with each use, as long as you keep it aerated and top up the acidity from time to time. This etchant solution is actually the result of initially using hydrogen peroxide as an oxidant along with muriatic acid. You can see us using this solution in our etching how-to and while creating the board for our RGB lock. For more information on using hydrogen peroxide, check out [Adam Seychell]‘s guide and this Instructable.
Aside: [ladyada] has added the receiver code to the Wattcher project page.