I own a car that almost won the ARRC in 2004 (not with me driving, of course). It has a reflashed stock ECU. Do you think that car would come close to winning next years ARRC without a standalone management system? I doubt it. The only way to find out, though, would be to spend all the money on a stand alone management system and compare the results. They might just be the same as the reflashed ECU, but there's no way of knowing without spending the money. If you want to win, then you'll have to spend the money to find out.
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Dave gran really hit the nail on the head with his response, but I'd like to specifically point out that assuming you will never know until you do a full ECu isn't entirely the case.
Go to a dyno, and fully instrument the car, and look at the results. You'll see if there are issues with mixture, for example, right away. As I stated earlier, in my research on this, I found cars that run very very well with their stock/slightly modded setups. And one of those guys, who's at the very pointy end of the field, has little interest in "Really finding out"...he's smart enough to know already.
Ask any dyno owner what he sees as clients, and I bet many will tell you they see lots of laptops. Do they see a blown motor from time to time? Of course, but thats no different than setting a car up lean with a screwdriver, or adding a degree too much timing...ot's just done with a mouse, instead of a wrench.
David, again, this is a big picture deal. It's optional....nobody's forcing anyone to spend the money. It's up to each individual to sit down and self critique. "Whats wrong with me? Is it my prep? My driving? My chassis setup? Or is it my car? My power level?" And, "I am X.XX seconds off the pace. Where is that time coming from?? The corners? The straights? " Only then can you start to draw conclusions, like: "If I spend X$$$ on the chassis, will I gain those X.XX seconds? Or the motor, is that where I am losing all the time?"
Invariably, the answer is spread across all categories, and the smart people look for the biggest gains for the least costs, and leave the incremental and minor things to the end.