Using a Multi meter i have now tested the the output voltage of all the components and the results are as follows –
Flex Sensors – 2.1 – 1.1v
Accelerometer X and Y – 2.3 – 1.8v
Having checked the following website http://arduino.cc/en/Main/arduinoBoardDuemilanove and with my lecturer we are both in agreement that these levels should be fine for my needs as i intend to use the USB of a computer to power the Arduino. Had i wanted to use this as a remote object i would have to consider signal conditioning as i would have required an external power supply such as a 9v battery.