I now have the software and manuals.
Skimming the manuals it seems the software would have made it a lot more useful. It looks like an engineer would have setup the software to guide the tech through the troubleshooting. It looks like it can store the data from a known working board, so there would have been no need for the tech to manipulate the two probes. This is where their stage comes in. Still, if we are talking production, we have had in-circuit for many many years. $4000 would have bought a decent scope, meter, power supply and soldering iron.
I'll see about breadboarding a few identical circuits and give this thing a test drive.