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Thank you very much! I will be attempting this.

One thing I forgot, change the password to login to the pi, username 'pi' password 'raspberry' is begging to get hacked, password update is option 1 in 'sudo raspi-config'

Wow, that was fast. Thanks a lot for those instructions. Is its performance actually good enough to make a significant impact? I don't really think so considering how many other players let their GPUs running 24/7. It's still a cool idea, though and I'll try it out for myself as soon as I can fix my Raspberry Pi...

You wont be competing against GPUs on a Raspberry Pi, the projects that support Pi are CPU only. Still a single Pi on its own is not going to have much impact.
I would suggest its much easier to setup and learn gridcoin on a standard windows/linux computer, running Pis isnt a good place to start, the learning curve will be very steep for you.

Don't you underestimate me. ;-) I don't think it will pose a huge challenge for me to get things running on a Pi.

But on the other hand, you are of course right that I could make a much higher impact with a better machine. Unfortunately, I don't have any fast system at hand these days.

Ha ha no I dont underestimate you at all, but some people find understanding BOINC + Gridcoin hard, then adding a command line only Raspberry Pi experience on top is quite a lot.
I have not covered in this post; how to select and sign up for projects, how to issue a beacon, what the reasons are to solo mine versus pool mine (and how that changes the setup process), and probably some other things I forgot too.

No problem at all. The instructions are clear enough. Thank you once again.