Fist of wind?

Does Fist of wind actually do something?
I've seen some mentions of it along monk dps threads, but couldn't find a proper explanation of what it does.
Everybody seems to agree that the tooltip is broken... But some say it makes you run faster, or decrease your GCD, but from my personal experience it does none of those...

So...anybody has some insight on fist of wind?

You run faster. It actually works. Many people won't immediately notice anything. I'd guesstimate it's around 10% movespeed.

It's really obvious if you do 50 of the escort leves in a row. You get a really good sense of movement pacing.

I didn't really noticed it, but I guess it's hard to see when you have no reference.
Thanks, that's good to know