I have a Windtronic. Its not only good to check the wind speed but also check the consistancy and the gusts. I have learnt that you should go as close to the water as possible and hold the meter as high as you can.
The wind is stronger 25-30mts up in the sky. So the reading on your Meter is just an indication. 12knts on the wind meter is about 15knts @ 25mtrs up approx. There is an exact science to it, others have posted it before.
In my opinion it is definately worth the money if your new to the sport and are getting used to reading wind conditions.(when you get hardcore and can read wind by sight then you can give yourself a pat on the back) Until then a wind meter does help.
Heaps of people use them even really good riders Ive seen. Its a handy gadget when your not quite sure. Hope this helps..good luck