Yes. You can use just a USB charger if you’re not connecting the serial port to a computer.
Well, no, but there are a lot of computers using retro CPUs and even retro computers themselves that you won’t be running CP/M on, because they use a 6502 or 6800-series processor instead of an 8080-compatible.
In fact, given that the CPU here is Amtel AVR, you won’t be running much assembly-level historical software on it at all. It does have a Forth interpreter (including editor, etc.) built in, though, and there’s a fair amount of Forth code out there in the retro-hacker community (The 6502.org Forum has an entire section dedicated to Forth, which is fairly active.)
There’s also no built-in mass storage beyond the microcontroller’s built-in 128 KB of flash memory (essentially, the “ROM” of the system). I assume his editor does let you save your own Forth screens to this (each screen probably being a 1 KB/so block) and let you run code directly from the Flash.
The system does have an SPI interface with four select lines and physical ports (the two .1" female headers on the back labeled “port 0/1” and the “game controller” ports on the side, which are actually just generic SPI), so it would be quite easy to attach an SD card reader/writer to the system. And of course, being AVR, there are already libraries out the wazoo for reading/writing files on the standard FAT filesystems used by SD cards.
All of the above is just what I gathered from the video and the schematic, along with reasonable guesses as to how the system design works based on that, so take it all with a grain of salt. It would be cool if someone wanted to do a more detailed analysis, or perhaps even breadboard up one of these systems. (I’ve got a couple of ATmega1284Ps myself, and even an diode-matrix keyboard salvaged from a TRS-80 Model III, but no '157s or '166s.)
Except for the CPU itself, I must admit I’m rather getting to like this little system. And it’s definitely giving me some design ideas for my Apple 1 clone.