I have a Autel AL619 that I used to read the ABS / SRS codes off my 05 Yukon without any issue. Less then $100 and it works on all of my cars with ABS. Free updates as well
IMHO, if a guy owns/drives primarily GM vehicles I would pay up for the Tech II. You can reflash software to modules (free for pre-2008 IIRC, have to pay for late-models), and you can drill down into far more than just the SRS/ABS stuff. I can retrieve trouble codes for heated seats, power lift-gates, power-windows, power locks, etc. AFAIK, not even the several thousand dollar Snap-On scanners can get down to that level...
And the bi-directional stuff is REALLY handy when troubleshooting, I can roll down windows, toggle heated seats, trip EVAP system solenoids, auto-bleed ABS, lock the doors, and TONS more, all from my Tech II.
I really am super happy that the folks on this forum convinced me to buy one; the BEST $300 I've ever spent when it comes to vehicle maintenance.