Features
bluetooth ELM327 is the newly developed wireless scan tool. It supports all OBD-II protocols

Works with all OBD-II compliant vehicles
Wireless (Bluetooth)
Software included for Palm, PDA
Software included for Windows PC
Software included for Windows Smartphone
Supports ISO 9141, KWP2000
Supports SAE J1850
Supports CAN bus

Functions: 
Read diagnostic trouble codes, both generic and manufacturer-specific, and display their meaning (over 3000 generic code definitions in the database).
Clear trouble codes and turn off the MIL ("Check Engine" light)
Display current sensor data, including: 
Engine RPM
Calculated Load Value
Coolant Temperature
Fuel System Status
Vehicle Speed
Short Term Fuel Trim
Long Term Fuel Trim
Intake Manifold Pressure
Timing Advance
Intake Air Temperature
Air Flow Rate
Absolute Throttle Position
Oxygen sensor voltages/associated short term fuel trims
Fuel System status
Fuel Pressure
Many others...