I can't comment on the legality of the product, but I'm sure this has been thoroughly researched by the vendors.

I think it's paramount to be on a cable connection to get the most out of it, and I'd think it's a lot more user friendly than using spreadsheets.

You'd have to have a seperate spreadsheet setup for each TAB and each race, or lose previous info. Also you cannot auto place bets from a spreadsheet as far as I am aware.