The Iphone has a restricted Bluetooth system. So PLX decided to go WIFI with it.

I also Helped a friend buying him that device.

He wanted it just for scanning codes and erasing them.

It worked great with his Ipad2. It is possible to work with it in Iphones/Ipads/Ipods.

He used the REV application. Torque Pro has and option to work with WIFI devices too.

About the Price you can Contact Nelson Performance for a quote, but their site goes for $149.99

Torque Pro in the Android Market is about $5.00

I guess apps for Apple must be around the same price !