Pros: -Good price
-Small
-Seems sturdy (although I'd like to take it apart and see the inside)
-Software is better than I was anticipating

Cons: -Might be too big for some cars? I haven't found one that has any issues though
-Some software idn't want to connect faster than 38400bps, but I didn't try very hard.

Other Thoughts: It's ELM327, so there's a wide range of software that will work with it.
The code for pairing is 0000.

Bottomline: Buy it. It's useful, and cheaper than you'll find a simple standalone code reader (if that's all you want, maybe another product here is for you). I always have a laptop or my Nokia n810 (Carman works wonderfully with this), so I'm fine with it lacking a display, etc for the added features.

Pros: This is by far the cheapest by far I found. Elsewhere I've only found this unit for at least a hundred dollars.

Cons: Software it comes with doesn't seem to be at all that sophisticated. Also the company is not around to support it as well.

Other Thoughts:

Bottomline: I use this with Carman on my Nokia tablet in my Pontiac G6. In certain review videos I've seen this to be pretty slow for some reason, but on my car it's near instant. I think it depends on the speed of the CAN bus of your vehicle, but on mine it's near real-time. Definitely recommended if you have a newer OBD-II vehicle, but you will have to bring your own software.

Pros: This product is easy to use... Just plug it in your OBD plug, activate your BT non your computer, install the softare, et voila!
It's a generic chipset so it should work on every car using OBD protocol.
Gives basic informations about your car such as engine RPM, speed, coolant temperature...

Cons: It's a generic chipset! Don't expect to get everything from your car.
I have a 1998 Dodge Neon and I can only retrieve the engine RPM, speed, coolant temp and some other things...
But I can't get it to "monitor all". I can't retrieve the fuel tank level for example.
Maybe a little slow... RPMs are updated every second approximately.

Other Thoughts: As I had some problem using it with my laptop, I had to use it through my PDA...
I connected the device to my PDA by BT. Then I installed GpsGate on my laptop and PDA. This software sends what it reads on your PDA serial ports (GPS, Bluetooth, ...) to your computer. Finally it writes data to virtual serial ports on your computer.
Just configure your OBD software to use the virtual port, and you're set!
But it is still slow...

Bottomline: Good product. Does its job.
It's not "complete", too generic, but you've got what you paid: an OBD reader and error code flasher.
Buy it if you just need basic information about your car.

Pros: Cheap for ELM with bluetooth
Small/portable (no long or awkward cables)
BT range is long enough. (Laptop, garage, and my n810).
Does the basic OBD functions well

Cons: No documentation (including the internal ELM327 of which there are a few DIFFERENT versions or the BT passkey of 0000, or what the leds signify)
The particular ELM327 as implemented can't do ATMA (monitor all) with headers on for very long a not-very-heavily loaded J1850 bus. I don't know what baud rate it uses to connect to the BT, but I have a different ELM that is able to do this without a problem (38400 v.s. 9600 baud jumpered). A more expensive device which does BT OBD which emulates the ELM327 and adds a lot of features is easily able to do this.
Gets multiple responses for a request (which can confuse things especially with the headers off)

Other Thoughts: Works adequately for basic OBD-II functions (though the multiple responses are annoying)

Bottomline: Very good for basic use considering the compact size and low price.
Look for something more advanced if you need to go much beyond the basics.