Thanks !
The project started several years ago, and at the time SD cards were slower than Compact Flash cards (it is less of a concern nowadays). As we intend to do things like audio and video streaming, speed is important.
Another reason is that the specifications for Compact Flash cards are available for free. SD technical specs are only partially free -- if you want to know how to use the higher data transfer rates, you need to pay a large sum of money, sign a NDA, etc. There are also no free specs for the next revision of the standard (SDXC cards), and backwards compatibility is not required, so future cards may not be compatible.
As kskunk said, it is used to select the RF channel. It is present on US models only. Don't bother about it, RF output is crap anyways