You can set up with a CO meter the only thing you cant set for is engine load, but as i said iv not had any complaints so far.
Yes a session on a rollin road will always show improvment.

Also it really does depend on where you go and what model dyno they have, as all the early (pre 2001) dynojet dynos cannot map real due to the software for the power commanders being windows based and the earlier dynos being DOS based...
Also they dont mesure eddy surrent so cannot correct for engine load...
And based on that it can be done just aswell with a CO meter, there are only a few outlets that have the newer ones that do the job properly.

And if you mapping a power commander real time it can only be done at a DYNOJET dyno centre as they will not release the software to anyone else.