Scott,
The built-in wideband O2 is an awesome addition to any ECU, it makes tuning fuel very simple, don't forget the EGT either, it too lends more information to the setup and monitoring of the engine.
We don't have traction control and although there are plans to do it there are a number of areas that the development is better spent.
We use the MegaTune protocol so that we can use the MegaTune program, I can't see why the Palm software you use won't work with VEMS you'll have to change the offsets for the datalogs and so on, all this is available through the vems3.ini file in the MegaTune downloads from the wiki.