I have the Hawkeye V5 and I am very happy with it. It now covers the BeCM and HVAC in addition to Engine Management, Transmission, EAS, airbag and ABS. In some instances you need extra cables such as for EAS or an adapter for ABS, which are quite expensive.
When I bought mine, including the EAS cable and ABS adapter, it cost me approx £350 inc VAT and delivery. It was then upgraded to V5 free of charge.
In addition to finding DTCs and clearing them it has Live Data on most modules, security and programming on some, ciruit tests and actuators so you can test components in real time. Setting transportation mode on ABS and EAS.
Quite a useful tool all in all and no need for a computer. The only real drawback is the lack of user manual which would make it a lot easier to use. I am told however, there will be an updated user manual at some point in the for see able future and that more version updates are planned.
It also covers all vehicles of one model e.g. all P38s not just my own.