Meade Instruments isn't one of the big names in weather stations, the way that AcuRite, Oregon Scientific and La Crosse Technology are, but their Meade Instruments TE346W is one of the least expensive entry-level models that you're likely to find. The display has the usual assortment of readouts, including temperature, humidity, time and the cute weather forecast icon that's mandatory on all low-end and some high-end weather stations. It also displays the outdoor temperature, but to make this accurate for your location, you'll need to add the optional outdoor sensor, which will up the price point a little. The black and white LCD display is also less attractive than some other low-end models, so if you just want to dress up your desktop with a colorful thermometer/hygrometer combo, you might want to get a La Crosse Technology 308-146 instead (though that model doesn't have the option of adding an outdoor sensor). Neither model includes a barometer, so temperature and humidity are pretty much what you get.
A better option at roughly the same price might be the AcuRite 75077, which comes with an outdoor sensor out of the box and can be upgraded to a full-color display for only a little extra. The AcuRite has "self-calibrating" technology that takes about two weeks to give you precision forecasts for your location, and it keeps a record of high and low temperatures, which the Meade model does not.
If you're serious about watching the weather from a comfortable room where you aren't experiencing it, there's a wealth of higher-end weather stations on the market, which start at price points not much higher than a fully decked-out Meade. The AcuRite 01605, for instance, is a great compromise between the really expensive full-featured weather stations and the glorified thermometers. It not only gives you the information that the low-end models provide but throws in wind-speed, barometric pressure and a display that includes the moon phase. Should you really get bitten by the weather bug, you can jump all the way up to an Oregon Scientific WMR-300A Ultra-Precision Professional.
It does what it's supposed to.
Overall, this is a good unit and takes up little space, easy to setup if you follow the instructions.