I finally finished my documentation project on implementing SLK 1.6 Beta on SP 2010 with reporting done directly in Sharepoint lists.
It requires the use of "BDLC" - Business Data List Connector, but priced at roughly $1000 per server it should be manageable. (And no, I'm not affiliated with Layer2.de :P)
The documentation includes complete step-by-step youtube videos, assisted by screenshots and text-guides.
Everything is online at; http://fragged.nu/2012/06/custom-slk-reporting-on-sharepoint/
Please keep feedback, suggestions or questions here on Codeplex, or at my website.
I will update the post as needed.
Oh and please let me know if this helped you out in any way! :)