You can do everything that you stated with it. You can connect up to a slave without it being powered up and change the node address and view the configuration.
If the node is on an active network, you can view its status, ....
I found the Siemens one to be garbage, threw mine in the bin and bought a Gossen Metratest 36A. Not sure mine is still a current model. I had trouble with the siemens unit that it wouldnt power some of the nodes i was commissioning however the gossen unit worked a treat, also has software (WinProfi) to save the commisioning data for the network etc etc
Heres the spec sheet for the 36A which i also found far superior and easier to use than the Siemens one, there was a bit of a difference in price though !!
We did a few ASI bus systems. You do get a hand held ASI configurator. Never been tested, to my knowledge, so I would not trust it. Why ASI bus, not very integratable with major role players.
I second the IFM unit they are rock solid. I have 15 ASI networks and i have had this same setup tool for 5 years and it has survived many sparkie's and bubba's