I have mine showing MPG, coolant temp, intake air temp, and MPH.
You need to set what it calls the speed error so it knows how far you drive to calculate mpg. Set it to 31" divided by stock tire size. That should be 11%.
Then you'll need to calibrate it before you can get an accurate MPG reading. Hook it up, fill the tank, select the "fillup" option on the SGII, press OK. That just lets it know to start counting gallons. Then at your next fill up, go to the "fillup" option and adjust it until it matches the gallons you put in.
The Scangauge was really useful when my Miata was overheating. It would show the temp increase (and decrease) long before the crappy dash gauge did. Now my Jeep is overheating and it's just as good. I can tell exactly when I need to turn off the AC or stop and let it cool down.