OK, here is my take on my American Motorsport chip:
0-60 times recorded with a g-tech pro, all tests done in the same location at similar temps (60-65 degrees):
baseline ... 7.77 sec
disconnect battery (then driven 10 miles) ... 7.69 sec
install chip (then driven 20 miles) ... 7.56 sec
This test was done with just hammering the throttle off idle and letting the car shift itself. Next I'm going to see if I can better the time by building up the revs a little.
So, did the chip improve performance? It did something... Now, I know these SHOs were 0-60 in 7.5 new, so maybe my car had something "out of tune" to only run 7.77 baseline, but the chip did bring it back to where it should be. Is it a "screaming race car"? No. Is it better than it was? A little. What would this improvement translate to in a quarter mile? I have no idea.
The most noticeable difference driving are the firmer shifts. I do not notice it to pull quicker or launch harder. Will the chip increase or decrease gas mileage? I'll let you know. Was it worth the money? In my opinion, as long as it did improve a little, it wasn't a waste of money.
As far as installation, at first it was a little difficult to know exactly what tools you will need, but with a 1/4" drive deep socket set (10mm and 11mm) and a 5/16" open end to disconnect the battery, it takes less than 15 minutes to pull the computer. (One note, don't even attempt to remove the computer if you have just driven the car. Those intake runners get HOT. Ouch!) Once the computer is out, installing the chip and reinstalling is easy.
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