I bought one of these on eBay for $5 bucks (plus $26 for shipping from Hong Kong) and just received it today.
eBay Motors: OBD II ELM327 USB Tool Interface Scanner CAN-BUS V 1.2a (item 260324162553 end time Dec-02-08 14:02:24 PST)
I was skeptical at first, but after it came in working order, I am a believer.
The software that ships with the unit is a little stripped down, but it can read and clear codes, offer data in real time (see my screen shots below (from my LX)) and be upgraded to offer freeze frame snapshots and various tests.
Also, the system is based on the ELM soft chipset for OBD-II to serial conversion. This means that any ELM compatible software can be used with this unit. I suggest you guys check it out if you need a cheap way to check codes, reset the MIL, and to learn more about your rig. (OBD-II only)
Some other free software that will work with the adaptor:
OBD2 Software
ScanTool.net, LLC
EasyObdII - ScanTool.net OBD-II Elmscan Interface Software - EasyObdII Version 2.1.1 (Powered by CubeCart)
Plus, with a little googling, you can find all sorts of other software to use.
