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I've been using a fitbit for a few months now and really enjoy the monitoring and feedback. Here is the public page for me Fitbit Profile . If you have one would like a little competition (very little) feel free to friend me.
For the sleep, you attach it to your wrist. You hit a button when you are ready to sleep. Hit a button when you wake up.
In between, it monitors how many times you were restless or awakened, for me I have a lot of problems sleeping due to back pain, shoulder pain, etc and I toss and turn a lot. So I am very interested in monitoring my sleep profile and conducting tests. I'm testing different things like sleeping pills or other aids to try and sleep better, and see which ones are actually working.