Yes, it would be but that would increase the cost. Also, you can't really ged a good colors representation in camera with this kind of flash, because if has noncontinuous spectrum. Ever wondered why all the better camera brands (Niko, Canon, Minolta etcetc) have discharge tubes instead of LED?
As for the project there isn't really a one. It was simply wired because i needed a strobe light for some measurement. Then I've experimented a little and torn this stuff apart.
IIRC circuit was composed of some random pic micro generating pulses (extremly simple code), a capacitor, some power resistor, bench power supply, some large BJT, MOSFET, SCR with whatever gate/base drive circuit that i could assemble in few seconds.