[c0nsumer]

Look at it closely. It's neat, but it is different from the frame-oriented approach of Wireshark / Network Monitor. It's great, but... different.

[pvsnp]

Yeah, I'd still prefer Wireshark but this is useful to know about for a variety of situations where it'd perhaps be worthwhile to see something.. if only Microsoft just exported to pcap :P

[c0nsumer]

Microsoft Message Analyzer can do the translation for you.

[windowsworkstoo]

Yes and frustratingly they have deprecated Network Mon at version 3.4 in favour of Message Analyser, so grab a copy while you still can.