alternatives include the wideband commander
www.widebandcommander.com
and a new wide band kit from Autometer, which I am getting only because it matches the rest of my gauges.
Is it worth it? It depends. How much have you invested in your engine? If you are running too lean you want to correct that sooner rather than later or else you run the risk of seriously shortening your engine's life span. Running too rich is not healthy either.