Buy the guys used fuelpak for $150 and save yourself some coin. Will work fine for what you need. If you have to ask about stuff like this you probably will never do more motor work. Not dissin ya, just sayin.
I have a 08 Ultra Classic and have just purchased a SE filter and Vance and Hines monster ovals. Vance and Hines recommend Fuel Pak, however, many members talk about PC111. What should I buy?
I would recommend neither, actually. FP is basically a means of adjusting AFR's with no means to change ignition advance or much of anything else. If you decide on the PCIII, consider the Fuel Moto tuner instead, which costs less and is nothing less than a PCIII without the external buttons and different branding. Otherwise it works the same and costs about the same as the FP. For a few more $$ you could have the PCV, which has more features and the option to go Auto-Tune in the future. The map-switch feature alone is worth the extra money, IMO.
Whatever you do, call Fuel Moto for advise. I'm not sure if they sell the FP any longer, however, but they do sell the PCx and T'Max.