|MikMod on STM32F4 Hardware :]|
The audio quality is quite good. I currently have MikMod configured to render at 44.1kHz in mono. I could likely render in stereo but I would be limited to smaller MOD and XM files due to the increased memory usage. Here is a video that mainly shows the audio quality as captured by my camera.
The video below contains a little more technical detail, demonstration of boot and loading different audio files.