I see your point Anthony; I was basing this all off of running software w/ the console. However, except for the rare occassions when the console reports it's raining with the icons it displays, you can quickly deduce it is not by looking at the rainfall rates. Yesterday the console showed a snow icon; we had flurries.
Upon further thought, you would also be able to tell if conditions existed for freezing rain by looking at the rainrate and noticing the OAT. I think, if you have a working knowledge of what the combined data presented by the console, you can also determine a meriad of other conditions; storms likely, fog, cloud cover, approaching squals. I don't place a lot of stock in the forecast algorithms, or METAR for that matter, since they're only hrly updated.
Utilizing software w/ the console only makes extracting and viewing the data easier, allows better forecasting, and enhances the purpose of having such an expensive station.