Yes, we are using it. No, it's not overkill.
You just plug the USB cable into the service connector under your sadle and have direct access to tinker with the ECU innards. You can download the whole program for free and see for yourself:
http://www.tuneboy.com.au/Support/Download.html
You just cannot modify or read variables from your bike without the cable & licence code.
Install is like any other Windows software.