I know many of us have owned the Ultragauge that has its own little text screen, but this is more along the lines of Torque.

UltraGauge Blue OBDII Adapter and App (NEW) [UltraGauge_Blue] - $79.95 : UltraGauge, OBD II Scan Tool & Information Center

"Screenshots":

UltraGauge OBDII Scan tool & Information Center

For $70, it looks a bit pricier than a good ELM unit.

Wait a while-it will come down...