Morning Ron
If your planning on making adjustments yourself, maybe at the track while people are talking to you or bringing you tea, a newer model would be easier to understand and view but ultimately give the same results as the E48. I connected to mine only a couple of times and it felt like I was plugged into a Super Nintendo haha. My phone has better graphics
It will though easily handle what you have described, so if it's cheap enough I'd use it.
If your feeling flush, there is a Motec on eBay at the moment starting at £500 with no bids !
Be aware though, Motec's from what I've read require extras to be unlocked via upgrades I think so if you decide on traction control later or flat shifting, it costs to unlock it.
There is a motec display too
Thanks
Darren