I purchased this in order to reduce the number of cables running to an Onkyo TX-NR686 receiver. Upon connecting the device to the Wii and the HDMI cable to the appropriate input of my receiver, I immediately had video and sound.
However, when I switched the Wii's output to 480p, the picture continually flickered. I tried replacing the included HDMI cable with a known working one, but it did not correct the issue. I ended up connecting my existing Monoprice Wii component cables directly to my television (Sony XBR-65X850E) in order to switch the Wii's video output back to 480i (the receiver's component video inputs only accept 480i).
The sound quality using the device (via HDMI) is excellent, and the video quality is identical to that of connecting the Wii to my receiver's component video inputs (my TV does a good job of de-interlacing the image). For me, having only a single [black] HDMI cable running to my receiver vs. five [white] cables with RCA plugs was worth the $9.99.