VERY GOOD, Duskrider! (You got it "almost" right).
The major thing that's not quite right is that the CS and CTS, if bought somewhere else, do NOT have to be sent in to be "converted". This saves on the "conversion fee" and postage, but you still have to pay $30 more per custom tune. I doubt you will get a good enough deal buying the CS/CTS somewhere else to make up for the price difference, so, personally, I'd just buy the unit from PHP in all cases (that's what I did!).
One additional thing, while the tunes among all the units are the same (you're simply getting different "features" with each one), the CS/CTS units will work with any model year truck from 1997 on (they should be supporting 09+ trucks VERY soon). And, they overcome a "reliability" problem on pre-04 trucks that was associated with the OBDII cable.
- Jack
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2024 F150 Platinum SCrew 3.5L PowerBoost FX4, Peragon Tonneau Cover, LineX Bed, 35% Window Tint on All Sides and Rear, Full Nose Paint Protection Film, Husky Mud Guards, Lasfit Floor Liners, VIOFO Dash Cam