How feasible is creating a plug in -out hardware system ?

[pololo]

I'm making a hardware system that uses both analog and digital : The system will have the following components , RF ID module GSM/GPRS Bluetooth LCD Micro-controller..... etc of several modules that have their own embedded software to run them in a proper way

I was thinking as I can apply Software engineering to make the software in a modular way , can I do this in hardware ?? i.e if I don't need the "bluetooth" in my design I will simply remove the hardware and the software >

Here's my imagination :