I have it as well. I'm using flex fuel, traction control, and knock sensors. Like anything there's a learning curve as you figure things out. But my car is a street car and I have no issues jumping in and driving it long distance.
What settings do use on the knock sensors and how have your found their performance? I've played with the knock sensors quite a bit and not at a level where I really trust them. I find way too much "noise" and false positives. I have an aluminum block which I know changes things a little. Over time and many logs I've built a profile of each cylinder but still take it with a grain of salt.
I looked at the factory coyote tunes from Ford and how they configure their knock sensors and followed similar specs since it's still a mod motor. I've also tried various knock sensors. There's a specific brand of Bosch wideband (wide frequency range) sensor I found works better for me than the others I've tried.
All said I'm still not at a point where I'd trust it if I ever ran pump gas.
It's more than just extra protection, the stock ECU simply will not go that high. I find right around 7200 RPM is where they just stop.I will spin my cobra up around 7500 to 8000 rpm on top so wanting extra protection that the oem computer cant keep up with.
BTW I see chatter above about self tuning. Just to clarify for those researching who are not familiar with these units that term is very misleading. While it's true the ECU can use feedback from a wideband and help dial in the fuel map or VE table it's a little more crude and should only be used to get a base map that you can then finish off properly yourself. When "self tuning" you have to remember things like EGO control, accel enrichments, decel and other driving characteristics are all going to mess with it. It does a great job for what it's designed to do but that's all.
When I hear "self tuning" I'm thinking start the car and let it dial itself in. It's nothing like that. You have to dial in manually where you want fueling to be, injectors, idle and EGO and flex strategies etc. accel enrichments, cold start fueling, crank fueling, dashpot settings, ignition timing tables etc. etc. The list goes on and on. All that must be manually setup. I know that's obvious to guys already playing with them but for new guys looking into it, FYI.
Also I saw a comment about lack of IO (inputs/outputs). Just so you know you can buy a microsquirt and flash it with a firmware that turns it into a straight up IO box. It then connects to any megasquirt based system, including the MS3 PNP for the cobras, via CAN. That's just two wires. Suddenly you have a whole bunch of extra digital, analog, temperature and a couple more VR inputs available. It works really well, I run a microsquirt IO box in my Cobra.
Also for those who like to tinker I found you can take a simple cheap Arduino and interface it with a CAN controller and make it talk to your MS3. You can feed it inputs and add gauges or additional info to your data logs or have additional outputs should you need. I made a video on that a long time ago demoing the basics of it working and I'm pretty sure I published sample code and specs for anyone to use.
Thanks
Malcolm