Eric says:

In my previous post, I mentioned powering the device from DTR. DTR, for those of you not familiar with RS-232, is a device control line which is separately assertable. To turn the device off, toggle DTR. Presto! No more power, no more bits. Simple, when you know what DTR does.

So far, I think this is the best idea, and after checking out my methodology and initial circuit design, I see no reason why I cannot go as high as 9600 baud. Even the more inexpensive AD converters can achieve that speed when we only want to use 8 bits. I am toying around the idea for using an 8 bit AD converter, then its just a matter of clocking them out a UART.