Once you dial-in your stride length for running and walking it is very accurate. Verified on the track.
Basically a Pedometer built into a fitness watch. you set your stride lengths for walking and running and it calculates speed and distance, estimates calories and has the usual watch features like excercise time, chrono, lap times, etc..
its a very nice running watch for the price. I have been running on a track lately to play around with it, and its very accurate assuming you set your stride lengths correctly.
if you dont want to shell out hundreds for a GPS watch, take a look into this. simple features, similar results.