Black boxes

I work with some young lads and all ive heard is bad as in can be quite restrictive with driving times and also possible to fine you4 being above road speed limit.

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Loads of youngsters (17-21) in my extended family have had them - they are not a con - very often the only way a young teenage, newly qualified driver can get car insurance.
They do not monitor them in the detailed way you outline. They monitor generally as follows:-
1) If they exceed 100 mph the insurance can be invalidated.
2) It picks up fast and erratic driving and sensible driving and they can usually log into a site and see their monthly judgement e.g excellent, good, acceptable, poor etc. Good marks can get discounts on the insurance.
3) With many schemes they will monitor and adversely score a lot of late night & "early hours" driving as this is statistically when many youngsters have accidents.