I picked up one of these when one of the IDE channels on my motherboard died - all the drives were original IDE, and thus all the SATA sockets were available - so I hooked up the old IDE drive from the broken IDE channel to a spare SATA with this gadget.
Plus side: it works - the old IDE drive is visible again via the SATA connection for reading & writing
Down side: It runs extremely slowly! However, I am fairly certain this is a symptom of my motherboard rather than of the gadget itself.
I can only speak as someone in the position of having to replace an IDE connection - it will definitely do that, but don't expect it to immediately run like new, it may be like mine and mainly just allow you use it long enough to copy everything off the old IDE drive and onto another drive instead.