There are a couple different methods that car manufacturers use to generate the VSS signal and injector pulses needed for the MPGuino to work right. For most cars, it works fine with no modifications necessary, but there are a few that need extra stuff to make it work. There's several threads in this forum about that. Once it's properly calibrated, yes, it should give accurate readings.
Your Subaru should be okay, it looks like people have installed it in '94, '98, and '05 Subarus, so it should work fine in yours as well.
If you're up for it, you can still make your own. There are schematics in this forum for building if off of an Arduino or iDuino, all the other parts are common electronic parts. The kit put it all on a nice PCB for you.
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