Can I use the Arduino for this? Serial Read

I want something like the following:

http://www.techedge.com.au/vehicle/aldl8192/8192hw.htm

If I set up the serial communication in the arduino and change the baud to 8192, will I get something comprehensible? I would make the above circuit, but I don't have a serial port on my computer , and I already own an arduino. I just want to check for any advice before hooking it up to my car.

Yes that looks perfectly all right for using with an arduino. The only caution is the normal thing when using other serial interfaces and that is you might have to disconnect it during software downloads and also de bugging can be tricky because you can't do a print to the console.

Thanks for the quick reply.

I understand I shouldn’t have it connected to the car when I upload the sketch, but I’m not sure why I can’t monitor it afterward. I would only receive RX from the car, and TX to the computer. I won’t be entering any commands for the board to receive, and nothing in the sketch will transmit to the car. I just want to watch the communications between car components at this point.

Also, I have two arduinos, I don’t know if that would help anything.

–edit–
okay, I see the problem after trying to run a quick test on the ardunio, the ardunio doesn’t like communicating with the computer @ 8192 baud. It’s not on the list in the monitor so it gives me a bunch of gibberish.