Gives you options for changing character stats (health, regeneration, reach, inventory size, mining speed), add/change/remove armor and vehicle grids, mess with modules, modify recipe costs, change some weapon/ammo values and a few other things.
Beacon range (3) overrides the increased ranges of Mk II and Mk III beacons from Beacon Rebalance. A multiplier setting of default 1 or exceptions for modded entities would be great.