Tropical Storm Grace comes to life in North Atlantic
The area Grace is in is cooler water than is usually condusive for storm formation with sea surface temperatures of 60 - 70 degrees F. Storms generally prefers water in the mid to upper 80's F. Grace is expected to weaken over the next few days, however, even with the cool waters two models are showign the potential for Grace to strengthen to hurricane status with one of those models predicting a strong Cat 1 storm.
Tropical Storm Grace ends the silence in the Atlantic (Examiner)
I suspect this will be a rain maker as well.
Tropical Storm Grace is a small storm but strong storm. It's winds were clocked at 70 mph in the latest update. Tropical Storm force winds over 40 mph extend only 50 miles away from the center. The forecast models here do show a gradual decrease in winds.
This is aiming for Great Britain, but is over cool water in the upper 60s to near 70F. This is not conducive to tropical systems, so it will likely be declassified before reaching England, but remain a small wind and wave generator.