My scenario was that I was getting rid of an old analog TV and replacing it with a fairly old LCD that was surplus from work (IBM 6658-hg2 to be precise). Ran DVD, VCR, and Wii into a three-way composite video/audio switcher, audio output to my stereo, video output to this box.
Worked from the get go, no adjustment necessary, and much nicer video than I was getting in composite, although to be fair the composite was going into an RF modulator to get into my real old analog TV. Anyway, what I am seeing is nicer than I'm used to seeing and certainly pretty good quality by my standards. Even though the gear I've replaced makes me a real throwback, I'm actually a media professional and pay fairly close attention to things like video quality.
From the reviews I had read, I did not expect much from the cheap converters, so I went for this more expensive item.