$399 includes 2 sensors, one for each bank. $199 is the bare, no sensor price. It communicates on Wi-Fi, so you can connect with anything wireless like a phone, tablet or laptop. Also datalogs for 1.5 hours so you don't necessarily need anything attached while running.
If you want a down and dirty gauge set up, you can go with:
http://www.14point7.com/products/spartan-lambda-controller-2http://www.14point7.com/products/solid-afr-gaugeYou're up to $175 and no datalogging. And only handles one bank. You can't touch an Innovate setup with no gauge for that price. I have a LC-1 in the W350 and it's fine for what it is, but this is great for a carb setup. Does everything someone looking to dial in A/F on a non computer car.