Yes wards at that price it has all of those functions and will control spark as well. The only thing with buying one at that price is you will have to build it.
I'm not saying its the best way to do it BUT we are talking about doing it cheaply and for an EFI system it is cheep and good quality. I'm currently using an ms-1 on my turbo l18 and it works vary well and although I'm upgrading to an ms3 pro for the sequential fuel+spark and on off functions my ms1 will still be used on my turbo a12 with fuel and spark.
For more info on ms go to this site.
http://www.diyautotune.com/