Pros: cheap, no card install, easily removed/moved to other PC
Cons: winxp/2000 only. no mpeg-2 realtime capture. sonic DVDmaker limited
The bottom line: I paid about $80 at CDW, and I was pleased. You get more out of a real video capture card with better software, but it's the best deal foryer$$$
My product was not as pictured on shopping dot com. My product is a 1" x 4" case with USB 2.0 cable on one end and yellow composite video on the other. Also included is an audio cable for use with YOUR sound card. Here's my review from another source:

This product is only for use with Win2000 or XP and only with USB 2.0 ...WinME/98 is not supported.

This review also serves as a plug for my site, where I put videos of prank calls to live call-in TV shows.

I digitized many hours of video tape clips using the Belkin USB 2.0 DVD creator. It took some initial piddling to learn how to operate the bundled software (Ulead VideoStudio 6.0 SE DVD for video capture and Sonic DVD creation software). The Ulead is practical and simple to use, and worked better with the USB product than Adobe Premiere. Belkin USB + Ulead will NOT capture directly to MPEG 720x480 from videotape source.

I captured each clip as a 720x480 AVI, then compressed to mpeg (since a 3 minute avi of that rez is 3GB+). I did this over and over with few problems. Defects in the tape resulted in loss of synch on a few clips.

The product does not capture the audio itself...you need a sound card to use with the included cables.

The clips currently on my site thankyoufortakingmycall d0t com are not the good 720x480 clips I made with the Belkin product, but are lo-rez wmv sample clips. The mpeg-2 hi-rez clips will be used on my forthcoming DVD of "goofs".

I will be making this DVD entirely with the Ulead VideoStudio 6.0 SE DVD and Belkin Hi-Speed USB 2.0 DVD Creator.