It would be great if it could say where the traffic was. Unfortunately a lot of the traffic we need to know about doesn't broadcast its location. Most airliners do, but they are generally too high to be a problem to us. Light aircraft and military generally do not, for different reasons. But most at least show their altitude, and all transponders give their id code. From the id code it is fairly easy to detect RAF or USAF aircraft, so the device warns of those with a red flashing LED, and beeps unless they are above a certain height. If the aircraft id military and not showing its altitude it assumes the worst case and beeps an alarm. Police and Air Ambulance beep and flash blue. Other aircraft below 2000' beep and flash yellow, and there's a green flash to show that aircraft are being detected but not a hazard. And actually that is probably enough to be a cheap and usable system. But for the extra size and cost of the display it adds useful information, showing the altitude and aircraft type. Plug in an HDMI monitor and it can show callsign and distance and direction (relative to a latitude and longitude that you can preset). And once I have the web page code sorted it will be able to show that information on a phone or tablet connected to its wifi.
But meanwhile I have work and family commitments before building toys.