In Alpha 3, Wind Stance was stated to give concealment and a general 20% miss chance.
In the Beta, Wind Stance still gives concealment, but provides a 20% miss chance against ranged attacks only.
While it does allow stealth oriented characters to pick up an option to access something similar to Hide in Plain Sight with anything more than 5 ft of movement, under both versions, the Beta version has been significantly reduced from the Alpha version for full BAB characters, who are amongst the most likely to wade into melee.
Mechanically, I thought the alpha version was somewhat cleaner, as concealment is concealment, and having concealment only provide an effect (20% miss chance) some of the time seems odd to me.
With regard to the power level, with the BAB +6 prerequisite, it will become available for medium BAB classes at level 8, where, for some of them, blur, the nearest comparable effect, has been available since level 4. Full BAB classes will likely not take it at or near level 6, since their feat selections will likely be dedicated to building effectiveness in one of a handful of combat resolving feat trees, rather than defensive boosting trees.
I would like the feat, therefore, to be returned to Alpha levels, so that it again comes closer to the functionality of blur. The counter problems of requiring the commitment of move actions and having a 1 round duration compensate for at will usage, and slightly easier activation.
