It does have real-time tracking with the GPS. I wouldn't advise getting it unless you have someone with you who can play navigator. I bought it for the traveling that we do, and it's just.. not that good, overall. I wish I had put the money towards even the cheapest of stand-alone GPS units, or maybe a PPC GPS bundle with a bluetooth GPS or something.
If I'm driving by myself, it's a pain in the butt. It may occasionally drop connection, it doesn't automaticly redirect you if you go off course, if your PC hangs or locks up or something you either need to pull off the road or reboot and reset your trip on the move which is highly dangerous. It doesn't have spoken directions in the 2005 package. When I drive at night, the blasting light from the LCD on the laptop lights up the whole inside of the car and reflects off of windows, making it difficult to see out. I can't imagine that I'm a better driver by making constant 90° head-turns to look at the display in the passenger seat to see where I'm going in an unfamiliar city. And frankly, I think it's just a pain to try to travel with a laptop and all the cords in the car.
If you have a navigator, it's a decent tool and a cheaper alternative to a true GPS system. My wife gets annoyed holding the laptop while I drive though. It gets warm, uncomfortable, and boring. She usually ends up closing it up and putting it away, or firing up The Sims or something to occupy herself. This makes the GPS useless to me and turns her into more of a distraction than a help. The directions are usually accurate and you can find a lot of points of interest, but I think Streets and Trips is really better for planning out your trip ahead of time and then just following your car on the map with the GPS than using it on the go.