I haven't tried the 4 bank chip, but I've installed several power pups and triple dogs. They seem to work pretty well. Check out the DP Tuner products. That's what I'm saving my pennies for.
mine was a bullydog 6 position. the 6 positions do have quicks and do revert to high idle on startup sometimes. mine has been reprogrammed for the injectors.
I would just use a TS performance 6 position chip if it were me. If you didn't need 6 positions van Aaken makes a very nice 4 position chip that you can get for a very nice price. PM me if you would like some more info or prices on either of these products.
The cool thing with DP Tuner is that if you want something changed (ie converter lock up, shift points, etc.) all you do is ship your chip back to Jody and have him make the necessary adjustments. Also, all he does is 7.3L Powerstrokes.
I have a 4-position bullydog chip, not the 6-pos. Dealer said it's not worth the extra money. The chip reverts back to high idle on cold starts so unless you need a position for pto use, not worth the money. As far as the chip goes, the only problem I had was with the combo of adding a shift kit. It shifted really harsh with the increased line pressure of the chip+shift kit. I had the local Bullydog dealer try some programs without the Trannysmart software, and shifts good now. The guys at Bullydog said that some 99-2000 PSD's have had the same problem. They are great to work with and are very willing to help solve any problems that arise, such as mine.
A good use for the high idle position on a chip is for jump starting vehicles when you are by yourself. You can kick the high idle on and really get some juice flowing to the disabled vehicle.