I have since gotten that tool, and make good use of it. I find it works well on pallets in "good condition" and the swiveling pads do make a great difference over other pry-bar methods.
On pallets of "fair" or "poor" condition, I find it a crap-shoot as to whether the boards will split or crack at the ends, usually the middle makes it whole, but not always... Sometimes the nails pull out with the boards, sometimes the nails tear through the boards and remain in the stringers. A 3 foot nail puller is a good companion, since these nails get in the way of further use of the pallet buster.
If I am realistic about my use of the boards, I acknowledge that I will often cut away the nail holes and splits at the ends. So, depending on that, I may opt for just sawing off the two side stringers and only pry the boards off of the center stringer. I may even just cut all the stringers out, resulting in two shorter deck boards, but without the risk of splitting at all.
Another thing is too be realistic about yield. You will break some boards... The wood is usually some form of "reject" to begin with, despite how nice some of it looks. It's either wood that is un-graded air-dried (maybe) stuff that wasn't ever going to become furniture or framing lumber, or it is stuff that didn't meet the grade, or culls from the lumber yard. I just used some OSB from a pallet/crate that was stamped "Reject - all other stamps VOID" so, consider your re-use, if it might be structural... Plan ahead for this and get an extra pallet, or three? They're free right?
The nails used on pallets are usually (almost always) nail-gun (not by hand) nails, and often have ribbed or spiral shanks for better grip, and may be coated with glue as a means of "collating" the nails for the gun. The glue melts when it enters the wood as fast as it is driven by the gun. Another thing that happens to pallets in the weather is rust. All of this makes for difficult pulling of the nails. Sometimes a hit with a hammer will break the nail free before pulling. Sometimes a mallet to strike your nail-puller will do the same, although you may tear off the head. (nail pulling pliers are amazing here). Sometimes driving a nail in or folding it over is adequate, if you aren't sawing it there. And, finally, these nails can be difficult to straighten and reuse... It can be done, but you'll spend a lot more time.
I also got a de-nailing gun, which drives the nails OUT of the boards once pried apart, which is great if you are serious about this. It can turn the nails into flying projectiles though!!, So over a garbage can or pail helps but not even a sure bet... I haven't tried a water-filled one, or through a sacrificial garbage bag over the top, but those might help?
A magnet sweeper. Free lumber isn't free... if you have a nail in your tire. If you dismantle pallets in your driveway, or garage, be EXTRA careful to clean up ALL THE NAILS! Seriously, price out a tire (installed) plus that lost time, and price out new lumber.