It can also register the other typical weather information. Temperature, including wind chill; barometric pressure; relative humidity and dewpoint. It also includes an electronic compass and an optional GPS engine.
It can tell you the wind speed and direction EVEN WHILE YOU ARE IN MOTION.
It ain't cheap at an MSRP of $1195 though, with the compass and GPS. (I'll have to wait for that winning lottery ticket...)
Gordon West wrote up a review of it in the December 2006 issue of "Popular Communications", on pages 57-58. You should be able to pick up a copy at any decent book store.
John - Amateur Radio KB7MIB
Phoenix Skywarn MAA-503