If you are going to do modifications that require custom engine tuning, then you'll *have* to use the traditional Superchip module, and your best bet in that case is the 2-program Superchip Flip Chip. That would apply for mods like blowers, nitrous, ported heads, MAF changes, fuel injector size changes, etc. Headers also sometimes cause a need for custom tuning, but that depends on what kind of heads and what the other mods are. In your case, with that Flowmaster exhaust you could run a set of JBA shorty headers along with the FIPK intake, your cat-back exhaust, and things like electric fans & underdrive pulleys and still be able to use the Micro Tuner.
For the 1999 & newer F-150's, yes, you can recalibrate the speedometer with the Micro Tuner. And as far as features, ease of installation, etc., of course the Micro Tuner is easier in that regard.
Tuning offered in the Flip Chip is whatever is actually needed for each individual vehicle and application, of course.
Anytime someone is doing *any* kind of racing, they need to call us to go over their tuning/powertrain programming needs in proper detail by doing a proper consultation, that's not the sort of thing that will be solved on a message board.
Road course racing is by far the hardest on the vehicle overall, and there are a number of things that need to be taken into consideration. Call us for details on that, our contact info is just below.