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What it probably is, is a simple resistor that gets placed in-line between your IAT (Intake Air Temperature) sensor and the ECM. It alters the signal from the IAT and fools the computer into thinking the air is cooler than it really is -- and it adds fuel to compensate.
The obvious catch is the computer is much smarter than these guys really think -- and it uses many more inputs than only the IAT sensor to provide fuel to your engine. It uses inputs from the coolant temp sensor, oxygen sensor, mass air meter, etc. If you add fuel based on one altered signal, it's not going to match the rest of the inputs, and the computer will correct back to where it was in the beginning.
For instance, if it's 70 outside and you fool the computer into thinking it's 50, it should add more fuel. But the air is still really 70. So the oxygen sensor, on the outbound side of the engine, is going to register slightly rich values, because there's too much fuel for 70 air to burn and there will be excess fuel in the exhaust. So the computer compensates back to where the O2 sensor is happy.
Forget the $10 junk on eBay. It's like the Tornado and other snake oils (like Slick 50). They may not actually harm your engine (in some cases they will), but they're a waste of money and don't live up to advertising claims.
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