This standard blue backlight HD44780 LCD is great for your arduino projects. It supports 16 characters wide and 2 rows in white text on blue background. As the pin resources of Arduino microcontrollers is limited, your may be not able to use normal LCD shield after connected with a certain quantity of sensors or SD card. However, the I2C serial interface only take 2 wires to realize data display. If you already has I2C devices in your project, this LCD module actually cost no more resources at all.
You need solder the I2C serial interface module to the 1602 LCD module by yourself.