Github for Windows features these two commands described as:
revert this commit
- create a new commit that reverts the changes of this commit
Is it possible to revert to a previous commit check it out and if I don't like it, go back to where it was initially?
It is now (March 2013), with GitHub for Windows, you can undo a rollback without having to type any git command:
See "Undo Button in GitHub for Windows"
we've added Undo support for Discards, Commits, Rollbacks, and Merges: