Good, and good value, product. Minor issues were easily overcome. Works well in Windows 8.1. (10/08/2014)
My Amazon review, from 30/07/2014:
I bought this directly from ClimaxDigital rather than through Amazon, initially because I only needed the VCAP303 and software, not the extra lead and SCART converter, so thought I'd just get the bits I needed for £14.99 and incidentally save £1 in postage. But then I realised that in fact they sell exactly the same product direct, including the extra lead and SCART /converter, for £14.99 plus/£1.95 postage, so you save on both product and postage.
I'm using this on Windows 8.1. I followed the instructions to install the software etc., rebooting as instructed, without any problems. I adjusted some of the "Capture" settings (Video input=CompositeVideo, Audio device=Line (USB Audio Device), and under "Device Settings": Video Standard=PAL_I and tick "VCR Input").
As other people have said, there was an issue with sound (i.e. there wasn't any!) on my very first attempt at "Capture", but when I tried this the second time it just worked (I hadn't altered anything), and has done ever since, so it's worth trying again a few times if it doesn't work initially.
The only other problem I've had is the one other people have also mentioned, with the message popping up saying that the video you are trying to capture is copy-protected, even when it's one of my own home videos. The fix for this is straightforward, and is in fact the first of the FAQs that ClimaxDigital now covers in the instructions: Close ShowBiz, edit CaptureModule.ini (as administrator) to add the line "ProtectOn=0" immediately after the existing line "[CaptureModule]" and save it. Restart ShowBiz and you shouldn't have any more problems (the file CaptureModule.ini should be in the folder "C:\Program Files (x86)\ArcSoft\TotalMedia ShowBiz\com.ArcSoft.CaptureModule", though of course it may be just "C:\Program Files\ArcSoft\TotalMedia ShowBiz\com.ArcSoft.CaptureModule" (without the "( x86)"), or some other folder if you didn't go with the software default location. Note also that if you find you aren't allowed to save the altered file back into the folder it came from (despite thinking that you are signed is as an administrator) you should be able to save it in another folder and then simply copy it back into the correct place (some strange attribute if Windows 8?). As with any change, it's obviously worth backing up CaptureModule.ini first, before making any changes.
I haven't yet tried to edit any videos with the software supplied but I may do this in Adobe Premier anyway.
So, to summarise, I'm very happy with the product.
UPDATE 10/08/2014: Having now edited with the software supplied, I'd say this is adequate for most things, though clearly it's not Adobe Premier (but then, it's also 1/20th or less the price!). Be aware though that, because the editing "line" can not be extended (as far as I can tell) long videos are hard to edit as you have too little control over where you move the "cursor" - to overcome this, when you capture videos split them into smaller chunks, maybe 15-30 minutes maximum, so you can see more when editing. You can always put the pieces back together again during editing if required.
Very High Quality (09/07/2014)
After installing the driver the product worked first time. The quality of the composite video image is very crisp. I've not used the S-Video port as that is not of interest in my current application. It's a worthwhile buy and one I would make again.
Excellent bit of kit (21/01/2014)
Had no problems with drivers for Win7-64 and XP-32, and even got Ubuntu 12.04 to recognise it, using VLC. My only gripe is with "Supports both widescreen 16:9 and 4:3". It doesn't. The included software will only capture at 4:3 and you will need other software to convert to 16:9. Capturing in the highest quality can be a bit of a stretch for older machines (dropped frames on a 1.7GHz celeron) but that's not the dongle's fault. Email to support was replied to same day.