Looks very good to me.  Its a true component to rgb transcoder.  Supports all HD modes.  The 480i feature is a bit vague, but it sounds like it does a crude upscanning of the signal so you can set your consoles HD features....but I don't like that the disclaimer of  "It is not guaranteed that you can use this feature."
Also the brightness feature sounds very usefull.  My existing transcoder (from xboxhacker.net) displays a dark picture.
Good find Edgedamage.