I bought a similiar item from Walmart for a little less, NOT actron but Equus Innova, and although it can provide more information than just the DTC in the EVIC after doing the key dance, its NOT much more.
I can't say it has really helped me to diagnose any problems any sooner by having it, the freeze frame data is interesting and does help, but NOT much.
Reading ABS codes helps, but it would be nice to read AirBag codes, Chassis and Transmission codes as well. Most will come through, but if I understand the system correctly NOT all of the codes will come through the DTC's in the EVIC and/or the OBDII Scanners for those subsystems.
I'd love to be able to do some simple functions for maintenance, that the dealer tools can do.
*Operate the ABS pump for bleeding the brakes.
*Initiate re-learns/resets for various functions that are typically called for in maintenance procedures for the engine/trans/chassis.
*Enter VIN and mileage info for various electronic replacement parts.
*Read all the subsystem codes and operational data that is NOT passed along the CAN network.
Unfortunately, all the manufacturers keep this information proprietary, I'm guessing to give a competitive advantage for their Dealerships and make more profit by selling the proprietary data/protocols at a high cost to tool manufacturers, and/or charging for the tools for the dealerships and independent shops.
It will costs thousands of dollars for a the dealer tool or anything similiar that approaces all the functions the dealer tool is capable of.
Sad fact is, a cheap laptop computer can do everything that tool does, it just needs a $20 adapter cable and a cheap software program, as long as the software writer has access to the data/protocols, which to get that, the software righter has to pay so much money, he has to charge thousands of dollars for his software to make a profit.
There are a couple of laptop type solutions that are often a bit more capable then the hand held scanner tools, BUT, the cost goes up fast as the capability goes up.