I don't have the 2. I have the 1. Whether its worth $500 is debatable but you'd probably spend at least $100 to program your speedo with the bigger tires. I like it because I can monitor my transmission temps. It has a crawl mode which is basically a delayed throttle response, that I think is pretty handy for off-roading.
There are some other useful features. I don't regret spending the money but it's not for everyone. I bought the plastic thing that leaves it displayed on the dash at all times. Before putting a double din HU in I had my backup camera connected to it as well. If you're buying it for all the features and speedo calibration, you'll be happy with it. If you are hoping to get great improvements in performance, you'll probably be disappointed.