The ScangaugeE has a graph that, I think, is a metric of how efficiently you are driving. The Ford hybrids have the leaves for the same, and other new cars have something for the same purpose.
Instant MPG is almost useless on its own. The Scangauges, and others, have other data streams to use in conjunction with it. I default to Throttle Position Sensor, but there is also Engine Load and Manifold(or Boost) Pressure to use in conjunction with the instant MPG to see what you are doing, if anything, effects the car's efficiency,
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