Cool to see that others are interested in this kind of thing.
First, I settled on a pull-pin latch after doing some testing. The pull-pin is a very positive type of latch and can withstand vibration. However, I know there are other types of latches, this is just what I decided to go with. One nice thing about the pull pin is that I could connect a manual pull release which makes adjustment and testing easier (i.e I could determine the pull force). I tried a bunch of different linear actuators, but given the very limited space (the annular space between the 54 mm tube and 3" airframe is only about 9 mm), I went with a micro gearbox motor purchased through Ebay. But, translating the rotational motion to linear was a bit of a challenge. I tested the torque of the micro motors btw and results were favorable. Keeping the bay door tight on the airframe requires a snug fit and linear actuators just didn't have the pull to overcome this.
I tried different types of latches and hinges. The current one that I'm going to test fly has a positive latch at the forward end of the bay. The release at the aft end with the spring brings the bay door back and releases the front, then a wire (I use music wire) lifts the forward end of the bay door to catch the air. The door will open at 0 air speed and presently, I know it will open and hinges will hold up to 100 fps.
A commercial altimeter like the Perfectflite CF or Raven delivers enough current for a long enough duration to pull the actuator pin. I'm working with Arduino for for a couple of other rocket projects, but don't want to go OT. A nice thing about using two side deployment bays with a bp charge is that they can be totally redundant. I use two altimeters usually, and deploy the first bay at apogee and the other a couple seconds later.
Keeping in mind that the goal of this project is getting down from high alt quickly and safely.