They will give HP and TQ readings on a dyno but they are really just a baseline for other mods. You can't really compare the readings to other dyno's because all dyno's are different and react differently to each bike on different days because of many things like wheel spin, meteorlogical conditions, heat, ram-air effects, etc....
As for the 1/4-mile estimated numbers they are only for fun. You will never be able to launch a bike at the track like you can on one of those dyno simulators. They are nice for dreaming though....