i have a basic g-tech. i ran it at the track once, it was 3/10ths off et and something like 8 mph off. hp is far from being close. i really dont' think i'm only putting 160 hp to the ground. its not very accurate.
but what it is, is consistant. i can make 3 passes on the street (in the same direction) and be within .05 of eachother. make a small change and see that change. I wouldnt' use it to say this is what my car runs, but for working out some bugs and not having to pay to go to the track, its definatly worth it.
another great thing it can do is record highest g force. thats great for watching your launch at the track. its easy to see if your spinning, or had a normal or better than normal launch. great for bracket racing.