You may run into a real image problem with a low IF approach. In the low IF approach, you'll have the receive signal you are trying to receive, at a frequency of Fc. Using a mixer with a local oscillator frequency of Flo, you'll downconvert Fc to an IF frequency of Fif. Let's use some numbers.
Fc=400 MHz.
Flo=398 MHz
Fif = 2 MHz (Fc - Flo)
However, what happens if there is a signal at 396 MHz at the input to the mixer.
Fc=396 MHz
Flo=398 MHz
Fif = 2 MHz (Flo - Fc)
And now, you have your desired signal corrupted by a signal at the image frequency. If you use I/Q mixers, you'll get image suppression because of the relative phases of the I and Q Paths, (Still Low IF) but if you simply use a single mixer, you won't be able to remove it.
Is this a research project? if it is, you might want to look at some fast A/D Converters and use an IF Frequency of 20 to 30 MHz. If you do this, then you can use an image filter to reject the image, and you'll avoid that problem. This would require an A/D Sample rate of 80 to 100 MHz, which should be achievable, take a look at Maxim or Linear Technologies.
Keep in mind that hardware for low volume stuff is relatively cheap compared to coding and debug time. '
Dave