I don't have one of that type. One consideration that I have read about is that in long range shooting, having it on your barrel will change its harmonics making simultaneous correlation of velocity and group size impossible. On the other hand, one of these, combined with a second chronograph some known distance downrange would allow calculations of ballistic coefficients. In this case you only have to not shoot one chronograph.
For a chronograph with the velocities displayed on the unit (Shooting Chrony, for example) you should be able to see the velocities displayed on the unit at normal distances from muzzle (about 9 feet). If it is far downrange, you should be able to read it through your scope.
I have a CED M2 Chronograph. One nice thing about it is that the control unit is set up remotely from the sensors using long cables. I usually put it on the shooting bench with the middle point of the sensors at about 9 feet from the muzzle. This keeps the expensive part from getting shot, and allows you to see and review velocities, and control the unit without needing to call a cold range to step in front of the firing line. Since I'm a control freak, I also have the optional infrared skyscreens, for when natural lighting doesn't cooperate. This chronograph is available bundled with some sophisticated ballistics software from RSI (Shooting Lab). The downside is of course, schlepping more junk to the range, though a nice bag is available. The closest mine has come to getting shot was when a sabot from a load I was testing (.223 projectile at about 3700 fps from a .308 rifle) hit one of the supports. It left a dent in the plastic, but didn't break anything.
If you load your own, you need some kind of chronograph. Otherwise, you're just guessing and assuming that your loads are performing close to the published velocities, and you have no way of measuring consistency. My reloading mentor and I were both surprised to find that a commonly used powder for pistols and shotguns was turning in velocities 10-12% lower than published-in both of our loads. His with .45 ACP and .38 Spl. and mine with .40 S&W. Two different lots of powder. Other powders came in close to expected, as did some commercial ammo. Without a chronograph, neither one of us would have ever been the wiser.
buzzsaw