I figured I would chime in here and clear up a little bit of confusion in this thread. My name is Boyd Johnson and I am a product engineer for iBike. I helped to develop the newest version (gen3) that is our current model.
The iBike has always measured wind speed, it's one of the most crucial measurements for computing power. You may have been thinking of the Hac4 computer which would try to calculate power based on speed and gradient of road. That one could work well for consistent climbing, but not for anything in a pack or with accelerations.
The iBike has shown to work very well, in fact if you go to the newest issue of Velonews you will see a big write up of some current power meters. The author had some doubts when he first tried the iBike, but admitted that he was very impressed with how well it calculated the power (at only $200).
Now, for a mountain bike, I don't want to promise that it will work in all circumstances. If you are on consistent ground consistency, and if the trail is not overly technical (singletrack is fine), then you should get a good reading on your power. If you are going between mud, water, hard packed dirt, and grass all in the same ride, the changes in crr might be too great to accurately calculate power.
For road training however, even in a pack, the iBike has proved again and again that it reads power right in line with power meters costing thousands of dollars more.