That's the unit which is more-commonly called "Vantage"...right?
I have the Matco equivalent, made by OTC. Never used an actual Snappy MT2400/Vantage.
The Snap-On tool is a (two-channel?) oscilloscope, the big adVantage is that it has built-in "memory" of "known-good" sensor signals to compare your results to. As such, they'd get "updated" each year with the next model-year's sensor patterns.
They're also usable (with extra-cost accessories) to view ignition patterns--secondary voltage, primary voltage, along with alternator or HVAC blower-motor, electric fuel pump waveforms and other non-computer electrical loads. You'll want a "KV module and pickups" for ignition voltages, and a low-amps probe to diagnose current draw of electric motors and such. I suppose a high-amps probe would be useful for checking starter-motor current, or alternator output on "big" alternators.
If it's like my OTC/Matco unit, it's also usable as a multimeter--volts, amps, ohms, etc. I bet you can view "numbers" like an ordinary multimeter, or you could view a graph of volts/amps/ohms over time, depending on how you set up the display.