Well, the software is easy to use, it's easy to use, and as long as you have a clean analog signal going into the video capture device, it will work well.
Here's my dilemma: I have a Laserdisc Player and I wanted to convert my Laserdisc movies to DVD (not a quality issue, but more convenient to play a movie all the way thru without getting up. Laserdisc most players require you to get up, flip the disc, and return to the movie). This device will record the video and audio from the player fine, but it's not near to the standards of Laserdisc for clarity.
I give the Elgato 3 stars for ease of use and the software included, but -2 stars for not using or giving the option for DV format recording.
Like the previous reviewer, I have also experienced some choppy video. The first few seconds of each recording are choppy (looks like dropped frames), and occasionally in the middle of recordings or after the transition from one scene to another. However, for > 95% of the recording it's fine. The recorded quality is good (my recordings are mpeg4 because I don't have enough hardware for H.264) and the software is exceptionally easy to use. I'm not sorry I bought it, but it is annoying to have to re-record video that was inexplicably choppy. I've asked Elgato for an explanation and will update this review if I get one.