The Lag-o-meter is a small electronic device which connects to your WiFi network and provides a visual indication of the Lag to your favorite gaming server.
Lag is a term commonly used by the online gaming community to describe the time it takes for an action performed locally to be reflected on the gaming server. As a rule Gamer's with lower lag has an advantage over gamer's with a higher lag.
The Lag-o-meter cannot reduce lag but does provide the gamer with near real-time visibility into the current lag from their network to the defined game server.