Yes I have one of these -- thanks Mom for the xmas present
You can use w/o compensation before you pitch. After that, the presence of alcohol will throw you off w/o a handy formula. I've use the MB spreadsheets for both beer and wine .
Also, when I first started using the digital, I stressed (have a home brew) a bit about readings that differed by 0.1-0.2% BRIX -- but this is really in the noise as it corellates to about .001 SG and the Hanna is accurate to .2% BRIX.