I have been looking, for a while, for a means of connecting my XBox, PS3, SKY HD+ and Surround system and at first I messed around with the 'proper' (for proper read expensive) cables and converters for each device - I REALLY WISH I had seen this product first though!
3 HDMI cables in, 1 HDMI cable out. Bish, bash, bosh - sorted and it's totally automatic too so that whichever device I turn on suddenly appears in crystal clear, High Def on my plasma. Loverly. Don't waste your time and money on the £100+ switches when there really is NO NEED with this little beauty.