Greetings -
I bought in full tilt on Nike+ back in Sept. Here's some observations -
Nike+ ipod = Feature built into iPod's and iPhone and needs a sensor in your shoe to 'log' miles and upload to the Nike+ website when you are done working out. Not an automatic sync, you have to specify 'upload'. If you're not where there is wifi, the run is saved on your iPod and you can 'sync/upload later. This "APP" is also built into Nano and new shuffle (i believe) but you must 'sync' those with a cord to your computer, then upload, as those devices do not have wifi. Kind of a pain.
Nike+ Running = THE App to use if you have an iPhone (I think they also have it now for Android). Logs walking via the GPS function in your phone, or if on a treadmill, put phone in your pocket and it will measure distance as well. It will Sync automatically to Nike website when done with 'Run'.
Nike+ Workout = This is a special pair of shoes that have sensors built in that sync to your iPhone / iTouch via bluetooth, and log your exercise when working out to the APP. The App is close to 600Meg in size and has dozens of seriously excellent workout routine videos built in. It does have a special 'receiver' that plugs into the 30 pin port so you can't be plugged into a charger when using it though. I could never get it to sync properly on my iPad, but it does work well on an iTouch and presumably iPhone.
Nike+ Basketball = Basically the same as workout, but for basketball.
Nike Fuelband = This a little different in that it logs 'general' activity not just walking, per sey. And does not have wifi so again, you have to sync to a computer and then upload to the Nike site to gain the points and other tracking benefits.
All of these log your calories burned and assign 'Nike Points' accordingly. All of this is nicely detailed on their website and you can of course 'share' your accomplishments, etc with your social network sites.
Why you would want to do this? Well, I like the technology so I think it's cool - Although the idea of having to 'link' your shoes to your idevice prior to your workout is a tad ridiculous.. Which is why just doing the Nike+ Running app on your phone is by far the most simple thing to do. No linking, syncing, special sensors, or anything else really. And it is very nice to have the 'history' on your phone of how far / long you worked out by week/month. You know instantly if you've been slacking, and if you do, you can see where you left off with distance, speed etc, and get right back on it.
So it's cool, it helps you 'track' your progress, and has social media 'sharing' if you're into that whole thing. But what it also does, via the Nike Fuel Points, is assign a value to how much you 'exercise', based on what kind you do. So I can see how much energy burned running, OR working out, and of course both in total. So if my arm is aching, I can take a rest on the workout, and make up the 'points' by running more. Or basketball I suppose, but I'm not that young. If you use the Fuel Band, log how many 'point' you get in a day's worth of activity. Then use the running app and see how it compares.
But also but working out / running and seeing how many calories are burned in that 40 minutes you can then equate it to that 6 piece chicken nugget meal. Or that 'energy drink'. With the ultimate goal of learning just how lazy you really are.