I have the Thundermax and yes it is correct that the auto tuner only auto tunes the AFR.
Since you don't need to worry about tuning the AFR it is one less thing to worry about, you can richen or lean out the AFR if you want.
Any base map will need timing adjustment unless you get extremely lucky. Adjusting the timing on the T-Max is easy to do and you would just need a few riding sessions to get the timing right. Most people don't take the time to learn how to adjust the timing with a auto tuner and they also don't have the patience to try.
Yes a auto tuner isn't for everyone and even some people with auto tuners have their bikes dyno tuned but if you a person that likes to DIY using a auto tuner and learning how to make adjustment yourself is beneficial.
I have a Thundermax auto tuner and I made all my timing adjustments and my bike runs great.
A typical dyno tune cost $300 to $500 and there is no guarantee that the dyno operator knows what he is doing so you could be just wasting your money.
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08 FLTR candy red sunglo,with 2015 103 HO, V&H Dresser Duals with Monster Rounds, Power Vision tuner, Willy Shiny Wheels and Forks and a bunch of other stuff.