Arduino is no alternative or better than this io board. I see it has high current output buffer, the ULN2003 chip that can sink up to 30 volts at high current. You will need external components to get this with Arduino.
At no stage did I say that Arduino was better or an alternative to this board. And as you rightly state:
"You will need external components to get this with Arduino." so too you will need an external component to keep the K8055N "going" and that happens to be a
PC !!
So, it's a question of "Horses for Courses" - if your horse wants to run the race with a K8055N - so be it - I'll run mine with an Arduino, a shield or even a home brewed circuit that CAN contain a ULN2003 - and then program the lot with
B4R - thats now my preferred horse!!
Enjoy !!