Thanks for the bump.
1. Yes, Its not an ELM327 chip but implements the ELM327 commands so that the interface will work with the huge number of ELM327 compatible software. On an ATI command, the interface says "ELM327 v1.0a compatible - OBDPro v1.0", most software packages are able to deal with this since they do a substring search for the text ELM327. I had to mimic the ELM command set to maintain compatibility with all the software, though nowadays I hope someone will be willing to do a client implementation that would accept binary commands as it would also help reduce the amount of data being sent over the serial port. I am developing a version with a binary command set, but then looks like I might have to implement the front end also.
2. The OBDPro does allow setting the communications speed all the way upto 128KBPS so at the higher speeds it will be faster than the ELM, I have done benchmarking against the ELM and will publish the numbers that I have soon, unfortunately I do not have the latest ELM chip so I am using version 1.0a, obviously the limiting factor is the speed at which you can send data out the narrow serial pipe.