Rust does look promising for embedded applications. Ideally, I'd like to be able to use it to program Pebble applications. I managed to get a simple executable written in rust to write to the screen a few months ago, but haven't been able to get even slightly more complex things to work. Hopefully the hard work of rust devs will make this easier in the future.
Erm, see steveklabnik's comment on this story. It is sort of a complex process right now in that you have to build libcore yourself and then try to link everything together (for me, that mostly involves trying something and then crossing my fingers, because my knowledge of that level of tooling is limited). I've heard several times that rust devs are hoping to make cross compilation easier.
