Be aware, this item will NOT duplicate your iPad screen on an external monitor or projector. It will allow you to show a Keynote presentation on the projector or external monitor and control it from the iPad. Of course, I expected that. As I tested the other programs against it, I discovered some interesting tidbits.
YouTube videos play though it. DRM protected videos do NOT, but videos that I added myself (i.e. ripped via HandBrake and added to iTunes) play beautifully.
The Twit.TV app send its video out through it which is really cool.
The ABC app does NOT send its video out through the adapter.
So, this adapter works well, but be aware of its limitations.