I use the Race Technology DL1, which uses 2g (or 10g) accelerometers, GPS mapping (track drawing and speed logging). I also log engine temps and oil pressures, battery voltage, brake points (using an on/off pressure switch).
The software, currently V7, is getting frequent updates at the moment to enhance it, and it now allows Google Map overlays (which is nice!), custom equations in/with variables, the usual graphing and real-time playback options and the like.
It can also be used with two or three dashboard units to display useful things.
Car variables, like gearing, logger position (accelerometer alignment), mass etc can be saved to individual files.
Lap sectors can be saved and reapplied, so each time you go to a track you have the same sector layout which makes comparisons easier (but not necessarily meaningful if the weather is more than a tiny bit different etc).
The unit can autostart (and autostop if you find something useful to cause that), and can have remote start/stop buttons etc) home made from simple buttons.
I wouldn't say it's invaluable, but it is a help at times, and is interesting all of the time. Knowing what peak speeds, revs and gs were pulled is a nice quick reference, and it's remarkably easy to deduce where you are gaining/losing time in each corner/sector. The hard bit is working out WHY you are gaining/losing time, and that comes with experience of data analysis.
If I could fit a sensor on the steering I would, but that's currently a project for the future.
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