Reportedly, the two men in the video, Reiner Ebert and Ludovic Woerth, hit speeds in excess of 150 miles per hour when they jumped from their perches high in the Swiss Alps. Watching them soar above those mountains and down into the valley below, is an amazing sight, and while I'd never have the nerve to do something like that, I'll probably never get tired of watching it.
As for the watch featured in the video, it is the latest in a line of rugged, outdoor oriented watches from Casio that features two sensors to more accurately measure temperature, air pressure, and altitude. Speaking from personal experience, those are often great features to have when you're heading out on an outdoor adventure, and my altimeter watch usually accompanies me on my journeys. These run $130, which is pretty affordable for this type of timepiece as well.