Depends on what you want to measure about lambda. Actually if they both do duty-cycle then they both should handle the whole book.

The oxygen sensor is monitored best with a DSO but most everything can be seen with a Multimeter. Things like cross-counts and lean-rich reaction time can really only be seen on the DSO. A qualitative judgement can be gotten with the Volt-meter function.

The systems on board diagnostics measured in duty cycle on pin# 3 of the left fender diagnostic socket can be done with the duty-cycle function of either VOM.

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Steve Brotherton
Owner 24 bay BSC
Bosch Master, ASE master L1
26 years MB technician