That looks like a pretty nice tool for the price, but it also depends on what you are expecting to do with it.
I don't really know of a full-featured bluetooth unit that will work with multiple brands. If you were only interested in Ford, then an ELM327 with Forscan would work well. There may also be similar programs for GM products, and if so, you might end up with less of an investment if you were to pick up an authentic ELM327 BT dongle and purchase Forscan and whatever for the GM (if it exists). If you don't expect to use the ABS, SRS, or transmission scanning functions, then an ELM327 with Torque (assuming you have an Android phone or tablet) would probably suit your needs for a minimal expense. If you want to be able to program new keys and keyfobs, then you'll need to spend a bit more.
-Rod