Priobe,
Austin Snake summed up all my answers to your questions, and did so probably better than I can.
I have exactly the same unit as he, with all the options he mentioned, and I've owned my Stinger for 11 years. It's probably the best money I spent to supplement our hobby since Peggy and I opted to buy a Cobra, then a 1966 Mustang, and still have room to park her Maxima in a 2-car garage.
My garage ceiling is just 9'3" tall so I eventually had to re-engineer the roof trusses so I could get the Stinger lift fully raised. Now I can also raise the Mustang to the fully elevated position.
David