Hello Pafata.
I've made a Compact Flash card interface for 2 different Freescale processors (the 'UF32 and the 'GB60). It requires 2 8-bit ports for an 8-bit data path or 3 8-bit ports for a 16-bit data path. Your bigger problem is how to wire in a 50-pin CF connector (not something I would want to attempt).
If you're just looking for some type of mass storage you might consider a memory stick or something with fewer pins.
In any case you will have to write drivers to store/retrieve data from the device. Have you considered this?
ron