I bought this from BlueMall but they sent the "component" version, not this "composite" version which I wanted. All credit to them, we sorted it out, and as they were then out of stock, I bought the correct unit from another supplier.
I bought it as I have a decent CRT TV but a multi-channel HDMI-capable surround amp, and for the time being wanted to keep that setup. This device provides the perfect solution for that - the surround amp upscales any standard composite, S-video, component or HDMI 720p inputs, and provides all the audio/video switching capability and this device just sits there and does a wonderful job at downscaling the full HD output of the amp for my CRT TV.
In use, if there is no signal supply to the device, it shows a frantic grey or red screen, but when it has an input it quickly settles down to convert it to a composite picture. There are a few jagged edges every now and then, but in general it provides an excellent and very clean picture, bizarrely in some cases appearing better than the original, but that could be down to the HDMI surround amp's upscaling too.
I have it, and my centre speaker's dedicated amplifier wired into an 'energy saver' multi-way socket, so that when the TV, as the "master" appliance turns on, the amp and this device are automatically turned on after a few seconds, which is great as it's less to switch on manually, and I won't switch the TV on (and hence these appliances) if I'm just listening to audio.
No problems about recommending this product, I paid around £40 in the end which I think is reasonable, though there are some for sale for over £100 which as far as I can see do exactly the same job.