sch777,
Don't worry about that brake bleeding tool, I have the same one and it works great. I have used it on several different vehicles including my '97, and it works just fine. The large storage container is great for flushing the brake system, you do not have to worry about running out of fluid and introducing air to the system. To make it easier to use, I installed a quick air connector between the tank and the reservoir cover. This made using the system much easier and faster, you may want to do the same thing.
The fine people at EGR brakes sell this same brake bleeder, that is where I purchased mine. They also handle the "Speed Bleeders", I like them also. They have a advertisement in the TDR and are listed in the classifieds as well.
I flushed my trucks braking system, added new SS lines, calipers and wheel cylinders. Afterward i had no problem with getting the air out of the system, using this tool. It is quick and very easy to use, it pressurizes the master cylinder reservoir, and makes bleeding the brakes a piece of cake. You seem pretty smart, you have taken the time and effort to look for new and better ways to address the brake bleeding process. From the past post it is evident that many on this site do not welcome change and the progress it brings. Yes you could do the brakes the "Old fashion way", as many will contest to. It is cheaper and well documented. I went to the newer technology because I like new products and or tools that make old task seem new and enjoyable. I also think it does a much better job of removing air from the system, without a doubt it is much faster, and I can do it by myself. To me, it was well worth the money.