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Run away from those generic "chips". They usually will have a bunch of safetey perameters removed, dangerously advanced timing, removed rev limits ect. Get a custom tuned EPROM.
It is just a resistor for the IAT sensor. You can pick one up at any electronics store for a few cents.
It will just decrease your gas mileage and probably your HP. Don't bother.
I agree. However if you need to remove your IAT sensor for say, turbo, the resistor trick isn't a terrible idea. Also it eliminates fuel fluctuation based off of IAT readings. What you do is look at the helms manual, it will show the resistance/temperature curve of the sensor, and you chose a resistor for some middle value, say 80 deg Fahrenheit...