I installed a Navman Fuel 3100 in Journey On. The brand name has changed, but I'll mention a few things that have helped.
First, the investment has paid off. It let me cruise a "efficient" speeds by watching the MPG display, and it paid off big thyme when it let me know the mileage had decreased. However, that also means that I get to fix the engine. The accuracy in total fuel used is ~5%, which is very good. I measure this by comparing the fuel in at a gas station to fuel used via the meter.
Second, about the installation. The company said that the instrument was not for fuel injected engines. Their thought was that their sensor ( a paddlewheel/turbine pulse generator,) would not measure the fuel returned from the fuel injection system. That may be true in a car, where the bypass fuel is routed back to the fuel tank, but in an outboard motor, that return line is in the engine itself. This means that only one line goes from the fuel tank to the engine, and if you measure that fuel flow, you got it all.
The above discussion means that one needs a flow monitor which has an independent flow sensor, external to the engine. Then you don't care what the engine electronics does.
Second, I had a h--l of a time getting the flowmeter display to work with the GPS via NMEA 0183. This is needed for MPG, since the miles come from the GPS. I finally turned off every word in the NMEA sentence and turned them on one at a time until MPG displayed correctly.
I notice the Lowrance 4000 advertises that it'll display every bit of information, including a lot directly from the engine. I'd check to see if the fuel sensor is external to the motor, and if so, I think it'd be worthwhile. The Flowscan, if I read it correctly doesn't give you MPG. However it appears to have an external flowmeter, because of it's external return line warning. The MPG feature is great, giving instantaneous data, so I'd pick the Lowrance.
Boris