Before I bought it I did some researching and what I found is that it works great for fishing for trout, walleye, and other cold water fish. It records the temperature readings every 5' so you don't have to worry about picking up false readings when you're bringing it through shallower water, out of the water, and in your hand. You might not think it could, but some cool water fishing people do.
I will also be casting out to deeper water so when I'm reeling it back in it'll spend some time on the surface. I could get in my boat and row around dipping a thermometer in the water at different deeps and spend a lot of time, but save $40.
Since you've used the item in 12�of water when you bring it up does it give 1, 2, or 3 readings?