It's once every 1.25 seconds...I know Ken was talking about a way to make it faster, but I don't know if that was with stock ECM or not. ScanMaster is also 1.25 seconds, though the 2.1 is supposed to be able to be made faster for certain datastreams. When I look at my DirectScan and Scanmaster at the same time, it makes the SM look like a toy, IMO the pain in the buttness of the DS is worth it.
The factory aldl frame rate is about one frame every 1.2-1.4 seconds, so this is what all the aldl scan tools will show with stock-type chips (TurboLink, Scanmaster, diacom, OTC2000, OTC4000, etc). There is a fast update chip mod which was developed for the Scanmasters and released so other chipmakers could implement it if they wanted to, which drops out some data and outputs important data like O2's three times per aldl frame or about one reading every 0.4-0.45 seconds. You have to have a chip that outputs this faster data stream, and a Scanmaster that can display it (version 2.1 or later, I think, but I'm not positive). I believe that Ken intends to update TurboLink so that it can handle this faster data stream (or he may already have, sigh, it's hard to keep up these days ). There is a good comparison of turbolink and direct scan at the turbolink website, at the link wakkoss gave. The biggest difference is that direct scan can do up to 18 frames per second so for serious chipmaking and fine detail tuning it is invaluable, but it is more expensive, harder to install, and TR specific whereas turbolink will also handle your syclone and is fine for dragstrip tuning.