I've never used the power bleeder, but have used a hand-held vacumn pump that works OK. I think they cost about $30. Used to use it on my Porsche. Goes something like this:

1. Remove the brake fluid from the tank. A turkey baster works well.
2. Open the bleeder valve at the caliper and suck all the fluid out with the vacumn pump. Close the bleeder valve. Do this for all four wheels. The entire system is now drained (tank, lines, calipers.)
3. Fill the tank with fresh brake fluid.
4. Open the bleeder valve at each wheel again and suck the new fluid through until no bubbles appear, then close the valve. Be sure to top off the tank after doing each wheel, so you don't start sucking air back into the brake lines.
5. You're done.

I'll be doing this shortly on my own S80. Good luck.