It talks serial too. I've used socat to send out data to the network from a set of serial connected devices for environmental modelling. Ended up being one of those jobs I got done from end to end in an afternoon with the socat part taking 10mins
Oh! I might as well use it for line editing on serial line with the readline local and serial remote addresses, for example when talking AT to a modem. Great! :)
And with history and all that stuff, too! I guess it can be used to forward serial port over network too.