1. What is Stats It?
Stats It is an Umbraco 5 (and only Umbraco 5) package which provides in-built analytics for your Umbraco website. You can get reports on visitors and what they are doing on your site.
2. Isn't that Google Analytics?
Yes you can think of Stats It as offering what you can get out of Google Analytics execpt for one major difference, it understands Umbraco sites.
3. What do you mean by understands Umbraco sites?

When you use a service such as Google Analytics to perform analytics tracking of your website you need to accept some limitations due to the fact that the service isn't built within the platform that you are using, in this case Umbraco. One of the most important features that you lack by not having an in-built analytics system is understanding content versioning.

With Stats It you can obtain analytics on your users on a content-by-content basis but you can also take this a step further and perform A/B testing of your content over a period of time, meaning you can see how traffic changes across versions of your pages/ site.

While it is true that you can obtain this information with existing external tools, it requires you to use separate tools that all need to be managed.

4. The power of reporting from within Umbraco
What good is reporting if you're not able to view your reports? This is again another area where Stats It will prove itself against the competition. Since Stats It is an Umbraco 5 extension it works from within the Umbraco administration portal, aka the backoffice, meaning you can view your reports and edit your content all through the one familiar interface. This has another advantage, since it is part of the administration portal it is subject to Umbraco's excellent security model, meaning you can configure who can and can't see certain information!
5. Will it be free?
The short answer is no, Stats It is going to be a commercially licensed product. That said I am a big fan of how the Umbraco HQ sells their products, small on price but big on features.
6. Where can I get it?

The pre-registration for Stats It has finished. Shortly a public release will be available on the Umbraco comminuty website, our.umbraco, so keep and eye out for it there.