I don't mind SVN, C++, the license, or even the prepend. OO-ing it should be fairly easy anyways, but I definitely don't like the use of strings to set options for the engine (http://www.blitzbasic.com/Community/posts.php?topic=82150#928834).
I agree, but considering this seems to only be used during the engine's initialization (I don't see it occurring elsewhere in the minor example), I don't think it's much of an issue. Beats calling two dozen functions before Init, considering init would ideally init most everything you want the way you want it with this.