I was happy to read that ST announced a Matlab package for the STM32-Discovery Board that will allow you to build software with a model based workflow. But as it turned out the package offered by ST is very limited and only offers a Simulink blockset for the ADC, GPIO, TIMERS and UART. But the STM32-Discovery board can do a lot more then this. I was even more happy to see that there exist another package provided by someone else. This package comes with a very handy installer and offers in addition I2C, SPI, FLASH, CRC, CAN and even more blocks for Simulink. And in addition the blocks by waijung are compatible with more Matlab version, compared to the blocks by ST. That block set only works with the Matlab version 2013b and never. Also i have to say that the documentation for the waijung blockset is really great.
The combination of that cheap STM32-Discovery board with the free block set from waijung allows a fast and simple start with a model based workflow. Beside the fact that Matlab is very expensive if you are not a student