if your car is a street car than yes, there are advantages, like saving your motor. i had that chip years ago. it has a ?hit load of timing in it. unless you are runnning higher octane fuel get yourself a new chip. lots of people that make chips around here can set you up. jimtesta, red armstrong,ramchargers, jay carter and lots more.
That Pitbull chip does have higher timing in it. With some higher octane race gas it will make a good strip chip. My car stock with good race gas ran some 12.70s with that chip. Hope this helps.
Tom