Innova 3160D

I can't find the specs for the 3169D, but there is a 3160D that might be similar. That is a fairly advanced scanner - you should be pretty happy with its capabilities, might be a little bit of overkill - all depends on how you use it. Frame display (live readings) is a nice diagnostic feature down the road. Little more advanced than what most people will need in a typical scanner - but can prove very useful for hard to diagnose problems. One of those if you'll never need it if you have it - but you need it when you don't have it. It is pricey - compared to other scanners - if you are looking for something to read CEL codes, you could find scanner for atleast 1/3 to 1/4 of the cost of this scanner. If you are comfortable with the price - I'd say have at it - once you start working on your own vehicles, can't have enough tools.

The Ultra Gauge, I consider more of a commercial "homebrew" scanner / information display. Has lots of features for the price, as long as your vehicle is supported. If you are looking at hypermiling or anything that requires constant updates to a screen - this is a great device to have. This is more trip/information display - than a scanner. Live display of sensor readings is a byproduct of its design - can be used for diagnostic purposes, but it is more for displaying a number of fields to the operator while the car is driven. Think of the DTC code reading as an extra feature on this display. Only thing I can't remember - is if this displays I/M readiness monitors or not. This is designed for fixed mounting in the car, they do offer a bracket to mount in the car - but I could never get mine to sit right.

I have a similar CAN bus scanner to the one you listed and I have the Ultra Gauge as well as a Scan Gauge (commercial product that the Ultra Gauge emulates for a lot less money). Depending on what I need to look at - either one could be considered better than the other.

What is best for you - ultimately, you'll have to make that decision. Rule of thumb on any tool - spend as much as you are comfortable with. Don't buy one just because someone has it - have to figure out what features you want / then figure out what features you need.

Just like it sounds - it captures a "snapshot" of the sensor readings via the ECM from the OBD-II port in the car, in some cases it can continuously monitor those snapshots to give you a "live" reading of sensors.