I'm also a fan of the TM2 Engine Saver/Engine Watchdog units. Have them on 3 vehicles and prevented a cooked engine on one of them.
Situation was a hot day, crawling in peak hour traffic (so watching idiots not gauges) and a thermostat failure. Thermostat was only 6 months old and fitted at the same time as the reconditioned head. It stuck just slightly open. I'm sure I would have cooked the engine if the alarm hadn't alerted me.
Mine are the type without the low coolant sensor, and I'm reasonably comfortable with that since the sensor measures head temperature and I set the alarm only a few degrees above the normal peak temp (less than 100degC on all 3 vehicles) so any slight increase in temp for any reason sets off the alarm. 
I do get the occasional false alarm particularly when towing uphill on a hot day, but I'd rather have it that way than to set the alarm threshold higher.
Love the fact that the temperature sensor is non-invasive and just bolts on. 
I don't like the LCD display model like the TM4 though, as they are really hard to read. The bright red LED TM2 model is the way to go IMO.
Steve
				
			 
			
		 
			
				
			
			
				1985 County - Isuzu 4bd1 with HX30W turbo, LT95, 255/85-16 KM2's
1988 120 with rust and potential
1999 300tdi 130 single cab - "stock as bro"
2003 D2a Td5 - the boss's daily drive
			
			
		 
	
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