Easy Bleed question

[VA300SD]

After reading and studying plenty of warning posts on the need to change brake fluid every year and every other subject matter on the dangers of brake fluid handling, I'm about to invest in the Easy Bleed.

Although I'm sure it can be used to force in fresh fluid through the reservoire and push out the old fluid through the bleed nipples (one at a time), can anyone please confirm for me this is one of the uses of this gadget besides just bleeding the system ?
Also, I understand the unit is "powered" by an external air source such as a spare tire.
Any quirks in the setup that I should be aware of ?
Just wanting a setup for a routine brake fluid replacement for my cars, which is a 81 SD, 745 volvo wagon, and a V-6 Camry.
Want to use this gadget on my parents' 81D and 90 300SE as well.
I think one of the caps provided with the Easy Bleed will fit the MBs and the Volvo. Not sure about the Toyota.

Thanks for your feedback.