If you add another rule for your form say you want the form to appear on the registration page but save into the custom post type of item is that possible with ACF pro and to also supply an edit form as well this is both for the front end I am talking im using the latest version
Yes, but not automatically.
A field group on the user profile page in the admin would save values to the usermeta table. To save them to a custom post type you’d need to create an action/filter to save them to the custom post type. http://www.advancedcustomfields.com/resources/acfsave_post/
The same would be true for a front end form. ACF would save them in one place to save them to another place you’d need to do that yourself.
In both cases the field content would end up being saved in two places.