Besides the price, what is the difference between this product and the Grass Valley a/d converter ($279)??

Apple store sells this product and the Grass Valley product which is almost 3 times the cost. I want to know what the difference is between these two that makes the GV converter so much more. i want to be able to place my 8mm video segments into iMovie for editing, transitions, titles, etc. Can I do that with this product and save a lot of money?

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