Bravo to Ben---the EDM 700 is the best $1800 we ever spent: $1500 for
the unit plus 6 hrs installation, but we had the engine out anyway.
Expect 8 hrs at your local shop rate. We just have Volts, EGT, and CHT,
didn't opt (yet) for OAT, fuel flow, or the other possibilities.
How about the GAMI's?
I need the multi-channel EGT to know if I need those! 
(Oh believe me, if you have Fuel Injection, you NEED them. :~)
Lycoming already uses tuned injectors on the 4-bangers. Our Lyco IO-360
(in a Beech C24R) maintains CHT within 15 degrees for all cylinders, and
LOP is smooth as silk. Correct this last to read "if you have a
Continental engine, or a Lycoming 6-cylinder, you NEED them!"
best of luck