I am looking at a few different chargers to get into the lipo world of offroad electric 1/10 scale. I liked the idea that this charger does not need a power supply, but I had someone tell me that the charger took forever to charge because the charger would only charge at a certain amperage. Is this true or can you select up to 4 or 5 amps to charge let's say a 7.4 25c 3800 pack? Any feedback would be appriciated about this charger as I am looking to make a purchase in the near future.

It's only an issue with higher voltage lipos, above a 2S (7.4).
You can get 6 amps on a 2S.

Current limiting is due to the chargers output power. 0606i is a 50watt charger and anytime your charging setup would need more that 50watts of output power, current will be limited.

This is generally a prob only for higher cell count lipos (higher voltage) or high count NiMH packs. 2S lipos will not be limited, 3S you will see some current limiting (50watts/12.6v = 3.9+amps). So if you're trying to charge a 5000mah 3S at 1C it will be limited. the 0606i will charge a 3S (up to a 6S), it just takes longer. Your 2S 3800mah will experience no limiting. If your lipo allows 2C charging the most you can do with the 0606i is obviously 6amps and that will be right at the chargers output limit (8.4 x 6 = 50.4watts) but will prob be within chargers tolerance.

I know you asled specifically about the Hyperion and its a grwat charger (I have two 0610s), but have you looked at these - seems to be good based on teh feedback and less than 1/2 the price -

http://www.hobbypartz.com/thac6smbachw.html