It runs identical to the MS2. It's just smaller and uses an external MAP sensor. It's not water proof unless you take steps to water proof it, but it is certainly more sealed than the normal assembled Megasquirt. The other I/O's can be used for shift lights, vehicle speed sensing, radiator fans, torque converter lockup or simply datalogging things like oil pressure. There is no better bang for the buck EFI controller than the microsquirt.
With purchase of the licensed Tunerstudio you get the Auto-tune feature, which works well but still requires some hands on setting up. I personally prefer tuning manually and with the O2 closed loop turned off. But I have used both the auto-tune and closed loop to get the satisfaction of driving a newly put together engine without spending an hour or two getting the tune in shape enough to drive.
