The tool isn't really for trouble codes.  It will read them, but then so will a paperclip.  The tool lets you see what the sensors are doing.  When I first bought one, I found out the hose to the MAP sensor was leaking (dry-rotted behind the turbo).  It was a big vacuum leak and the MAP sensor was always reading zero, but this wasn't setting off a check engine light.  Plus it's good as a knock gauge.  You won't regret it is you find a good deal.  The one in the link was a great deal.  You can also get a Monitor 3, 4, or 85.  They won't do later cars (1986+), so they are usually dirt cheap.