Kill A Watt comments: It is an inexpensive and useful device to gain ballpark estimates of power consumption.
Measuring AC power for motors is definitely more involved (than resistive loads) as power factor comes into the picture. Plus the waveform itself may not be a pure sine wave.
And just for information: The Kill A Watt manual says it measures RMS whatever that means for the device. My Kill A Watt does not even work on my MSW inverter so it is definitely not a RMS device which raised a red flag for me concerning how close it actually measures power. Maybe it is close or reasonably close for a sine wave or near sine wave.