I hope this clears some things up a bit.
The PowerCommander V will not be available for the Arctic Cat for a couple months. I am guessing around Jan 1st. It will be closed loop capable. PLEASE do not confuse closed loop with plug and play. They are having some tuning issues with the closed loop because under quick acceleration or deceleration it is chasing the A/F setting......meaning you chop the throttle and as it reads and makes changes for 1/2 throttle, you are already to 1/4 throttle. Another thing that you need to know, is that when you hook up PCV you have to give it base A/F numbers to look for......at EACH RPM setting.
So, at idle you know you can't get 12.5/1 ratios and run right...probably more like 16:1, but at mid throttle you will smoke your engine at 16:1.
In a nutshell, the reason the PCV will be better is because it is smaller. Closed loop will be a great tuning advantage, but will still need to have the tuner start with a base map and perfect it. Once perfected, you could just unplug the a/f guage and ride. Leaded fuel is hard on probes and two stroke oil only makes it worse.
We are getting there (perfect fuel control), step by step, but it will be a while before it is just plug and play like a diesel pickup with big boost!
GET PCIII now, and GO RIDING!!!!!
Next year worry about PCV