Nice clean very Mac like design (many network tools suffer here).
Has a nice set of functions and takes the approach of using the system to make the various connections to resources (smart) like "Connect via HTTP" to a network device fires off safari and makes a connection.
It is a little light in the ability to monitor devices, which seems to be limited to simple ping.
This tool also works only on your subnet. There is no apparent way to extend this tool to look across subnets or even outside your network.
With this rather nice interface, I would like to see this tool add the ability to monitor a network, network range, or device by IP address. Additionally, the monitoring could easily be extended to monitor the actual service I am interested in, such as monitoring HTTP of my server in Dallas on the internet and monitor AFP on my server in my local network at the same time. Be aware, monitoring HTTP or AFP is more than making a connection, it involves a command, response and data check for HTTP, or even periodically mounting an AFP volume and checking for a directory list element.
With the developer's slant for design, adding detailed graphs and realtime network EKG style output for monitored devices should be a natural fit where the host information is shown, maybe even a tab...
Overall, this is a nice utility and an excellent design but needs to be built further before it becomes part of my network tool arsenal. (PS, and I really want to see that happen) For now, I will wait for "Network Monitor Pro"