can anyone give a little insight on the tool. is it worth it. also does the 496 HO need the number 5 software . if so is that a different tool or can all the tools be upgraded if it did not support the updates.

Yes they are worth it if you are going to be working on your own engine or a friends boat, And yes rinda does sale updated chips to install in the scan tool as the engines get more complexed over time. Not sure now but the last chip I bought was $125.00ish I believe, And you can order right from rinda by phone.

Best money I ever spent

What can you do with it other than read codes, hrs , hrs@ different rpm, Can you adjust fuel timming type settings.

I have one to. It is for a 496 and I think that I spent $500 on it when I bought it. It is very useful and cool to see all, if any codes going on with the pcm.