On another board I go on there is a recurring "Chip vs. PCIII" battle. If you install new pipes, the air/fuel mixture must be modified to suit the new pipes. A new chip installed in the CPU must be specific to the new pipes you are installing, and will only work well with those pipes.
A PCIII, on the other hand, is a small computer unit placed in line between the CPU and the throttle bodies, altering the commands received by the throttle bodies to suit whatever pipes are installed. The PCIII can be re-programmed and this allows you to creat your own air/fuel mixture maps for different pipes without having to go through the process of burning a new chip. Some people consider a "Rube Goldberg" like contraption since you are placing a pc in line to fix the incorrect signals by the main CPU, but it works fine on my Moto Guzzi.
I have the aftermarket Ducati pipes and chip on my monster and it works quite well (not perfect, but close enough). I will try the PCIII for the monster if I ever change from the Termignonis.