I also would not use the Meteor ARM fork on any IoT device, it depends on size and power and your vision. As you could read on this forum entry:
there are some really great devices which can handle the meteor server pretty well. This allows to write good embedded software running as “to go” solutions. As you could find in my profile we build some yachting device with apps based on meteor and those devices.
We started with sails and some others and checked them. But when comparing to meteor (<~1.5yrs) we felt more comfortable with meteor. And so we use it everywhere on such projects and are very happy with that decision. To include really the smallest devices we are also using MQTT or at least just serial communication.
With the mongo installation we did not had any difficulties. Based on the used OSes there was always an installable and suitable package. So we didn’t compile it ourself.
P.S.: It seems that there is some really interest in running meteor on ARM devices – Our download rate is currently > 2.500