I ran one in my 3.1 upgrade. The first one they sent me had a malfunction and the car would not even start. The second one did the trick.
I did not dyno test it so I have no idea what it really did for me. As far as the rev limiter.......???? I really don't know. I don't remember it having any limiter anyway. So, it may have done away with it.
Mine was in a 1986.
Remember, most of those advertised power gains are either at the flywheel (gross) with no accessories on the motor, and or available gains with a thermastat, headers/free flow muffler, and other modifications.
Most of the time it is not the hsp that is the greatest benefit. The chip will turn the fan on earlier (cooler engine temps), and provide more crisp throttle response. Other than that, you will not feel the car going any faster.