I bought this in order to watch DVDs on a spare PC monitor from a Toshiba portable DVD player with A/V-out (Composite - yellow phono jack). So far I can't fault it, despite the minimal instruction booklet and the slightly plasticky feeling. The image quality is at least as good, if not better than, playing DVDs on the PC using a software player.
Some things to remember (which I've discovered through trial-and-error):
1. I imagine most people would probably use this with an older 4:3 monitor, so you need to set your player to output as if to a 4:3 TV otherwise you'll get the usual squashed image when viewing widescreen movies.
2. The 'Widescreen' button is a recent addition to the spec and won't work at all unless you use a widescreen monitor. I assume it gives access to a range of widescreen resolutions but I can't test this as I don't have such a monitor.
3. The VGA pass-through feature is very useful, but you'll need to make sure the unit is switched on at the mains while using your PC otherwise you'll get no image - i.e. it's not a passive pass-through.
I'm impressed, especially for the price, and would recommend this as long as you spend a little time setting it up correctly.