The G-tech works by sensing the g-forces of your car as it accelerates. It uses a mathmatical fomula equating the g-force over time. Its all physics. The technology was used in helicopters before gps speedometers were around.
For accuracy you need to calibrate it often. Its real easy to use and you can store 5 different vehicles in it and 15 runs. It just plugs into your lighter and sunctions to the windshield. It does measure your wheel HP, but it is very inaccurate because it cant take into account wind-resistance. You enter the weight of the vehicle and calibrate the tach (it can sense your RPM's through the lighter socket) It says my car has like 210hp to the wheels, i don't pay attention to that. What i really like about it is the replay mode which will go over your run in real time with a graph showing your shift point's etc...and it will show the graph @ the 60', 1/8, 1000', 1/4 mile with the mph... The mph is off a bit because its not a trap speed like a track but the exact top speed through the lights (you are still accelerating through the trap)
It works great as a tuning tool to see if the mods you have done really worked. You just have to test on a flat piece of road or the same piece of road to get good before and after results. I use it all the time, it is very consistant...
As far as tire spin, it will still read accurately because you wont be getting as good of g-force as hooking would get you.
Its kind of like a scientific measuring stick for the seat of the pants feel...
They retail for around $200 i think, don't let ppl borrow it