Sure will,
I know for certain HPT should read any 96+ GM ODBII parameters. The list is quite huge as there are many things you can call on from the pcm. You can reset and check DTCs, but you may get the PID and the description just may read "Uknown" or "Check manual", but that won't interfere with clearing them. Both EFILive and HPT have bi-directional support, so you can play with the car, temporarly, say on a dyno: e.g. use it to verfiy my injector settings are correct and the numbers taht go in are the numbers that come out. EFILive did make autotap, so they defintely know what they are doing. I seem to like both, but HPT seems to be in more of a .Net code, things look a tad bit cooler, but both have ups and downs. HPT also has real time trace, I'm not sure I remember EFILive having this? Really simplifes tuning a very heavily modded car. Other then some minor stuff, like who has found table in x pcm, both products are worth the money.
If you were to ask me about pricing, I would say whatever works for you. The flashscan is neat, but I'm use to having the laptop in the car, I use home brewed idiot gauges so I don't kill myself or someone else if I'm doing street tuning. It gets pretty crazy and the flashcan is a great way to stay safe with both the car and yourself.
As far as locking bin configs, HPT does it, a few companies do it, but it's pretty much to the extent of changing around some VIN information, so data cannot be read when the OS ID is pulled. It does not interfere with scanning, though.