Ok, I have had this unit for a little while and wanted to comment:
Pros: It works, and it's fast. Seems tho use the default MAME controls which is a huge plus. Since it hooks right into the jamma adapter it's already good to go. Also uses EVERY connector so if you have additional buttons a la street fighter or Mortal Kombat or something then it's pretty easy to work with. Price is right and it comes with a USB cable. It doesn't need any weird drivers or anything like that, and it's certainly zero delay. It's split off into two devices so that makes things easier from a configuration point of view. All of the edge connections for I/O are used as well making for a lot of additional connections if necessary.
Cons: It's seen as a set of joysticks AND a keyboard. The coin and player select send keystrokes, in this case, the related default MAME keystrokes like 3, 4, etc. Why they chose to do this is beyond me. Actually seems like it's more complicated than it should be since just using keystrokes would have made a lot more sense but alas. It also means that if you are using a FE that worked with default MAME keyboard inputs then you're going to have to fix it somehow. As for the plug header, no idea as to what it does. There's also no video or sound support. I had wished that sound would work but no dice. Given how long the pins are, you could easily solder something up though. The sticks and buttons show up as two separate joysticks which is a plus. I'll post a pic at some point.
Thoughts: It took nearly a month to get here, but it's pretty nice, and it's cheaper than the JPAC The JPAC has connections for sound and video, but you have to use amplified sound to get it to work properly. The video would also need adjustment if you plug it into the JPAC since it doesn't do any conversion on it's own. Is it a better option than JPAC? I think that for beginners that it is. It comes pre-configured and it supports more buttons on the harness, so if you get one of those Chinese jamma harnesses with additional connections for buttons, they work straight out with this thing. No need for running special wires and screwing them into terminals on the JPAC. This is certainly a more "drop-in" option. When you figure in shipping/handling from China to the US, this unit clocks in at under 1/2 the price of an Ipac. When I bought it, the total cost was $37 USD, and an IPAC was going to cost $75. That's slightly less than half the price.