I have a friend who is running MS on a VW 16v right now.
It's a neat system and fully programmable. It's all based on freeware and there's alot of internet support. It uses normal impedence Bosch injectors and it's own ECU that plugs directly into a laptop. You can also get it with it's own spark control to make it a complete system or use your existing ignition. Completely adjustable fueling and spark if you use their system.
You have to build the board and all of the ancillary goodies and provide things like a TPS sensor, air temp, and it can be programmed for factory values for coolant temp, O2, knock sensor.
The big problem is that although there is a ton of support, alot of times there aren't alot of baseline values to set up the injection. Unlike a chip that's pre-programmed it basically comes down to alot of trial and error. If you just do it seat of the pants, you can get things close but never like if you spent time tuning on a dyno ($$) with people who know what all the settings do ($$$$).
Is it worth it? Tough to say, if you're looking for the last ounce of performance and want to be able to adjust everything six ways to Sunday, its not a bad choice. Personally, I'm not that patient and it isn't worth it for what I do (with both cars and motorcycles).
The other thing to remember is that if you're putting this on a carbed bike, you would need TPS, a swap to throttle bodies, injectors, fuel pump, knock sensor, O2, coolant temp and I'm probably leaving a good bit out.
-Randy