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HI LAPLACE ..A CPLD IS SOMETIMES WELL SUITED TO REPLACE LOW COUNT NUMBEROF GLUE LOGIC..
IF YOU USE A BIG CPU AN OTHER FUNTION CHIPS THE CPLD IS THE WAY TO GO, ESPECIALY IF YOU HAVE TO MEET IMPOSED TIMINGS AND POWER REQUIREMETS ..
IF YOU NEED TO IMPLEMENT A PARTICULAR FUNCTION THAT IS TO COMPLEX TO BE TACKLE BY A CPU .. OR THAT WILL TIGHT UP THE CPU FOREVER THEN THE SOLUTION IS A SPECILISED CORE .AND ASIC OR FPGA .THIS DAYS .THERE ARE MANY POWERFULL SOLUTION FOR HIGH SPEED EMBEDED LIKE THE XILINX VIRTEX II .BU THE CHIPS GO FOR $200
SOME EPLDS GO FOR $2.. AND A CONSTELATION OF SOLUTIONS IN BEWTEEN ..SO YOU SHOULD FIND WHAT IS BEST SUITED FOR YOUR PARTICULAR NEED ..SPEED ,POWER,COMPLEXITY.
It is simple problem.
if your design is more complex or is used to complete algorithm, you should choose FPGA, for this is its strongpoint.
if you only design a simple logic circuits or control problem, CPLD is enough.