Keep it simple.... exactly. You have what looks like an ADI pilot, which has pitch I think, and you also have a TT turn coordinator (not sure what it's called). As long as they are powered by separate sources, or able to, you are all set in the gyro and backup area. You have airspeed, altitude, and V/S covered already. All you need is an acceptable navigation source with a selectable course deviation indication. I'm not sure you can show external nav info on your GPS - is it a King KMD 150? I can't tell from your picture what radios you have, but if you have an acceptable VOR receiver already, all you need is the CDI. You can use your Garmin handheld to navigate in IFR conditions if you are in a radar controlled environment, but you need to be able to navigate in an IFR approved way if ATC radar were to fail, hence an IFR capable VOR nav receiver or approved GPS. You may need a heated pitot as someone else has said - not sure. This would be a minimalist panel and one in which you'd probably want to limit your exposure to light IFR, depending on your experience and comfort level, but legal I think. Not being able to shoot an ILS, or a GPS approach (can't do one, legally, without an approach certified GPS), may limit where you can go. If you are not planning on flying a lot of IFR and have personal minimums that are a little below VFR, I don't see anything wrong with it. May get you home in a pinch if you're proficient, and who wants to fly a hot RV in hard IFR anyway??? Good luck with your choice and be sure to get plenty of practice with an experienced safety pilot before venturing out in the crud.