And a lot cheaper than a Cray

There's also a benefit they don't mention- with Handbrake maxing out both cores on the iMac, other apps can suffer a bit...

Yep, it frees up your Mac to do it's thing, basically. Bonus.

My credit card is beckoning

Some reviews and posters on forums have questioned the quality of its encoding. In fact although the review mentioned doesn't say anything about quality, you can see from the screen grab comparison that the Elgato seems to knock the stuffing out of the colours. Elgato only gives you 1-pass encoding where as Handbrake gives you more quality options. it all boils down to the quality you want. And you can't use the Elgato Turbo.264 to assist Handbrake

Bill have a look here http://forum.macformat.co.uk/viewtopic.php?t=18376&h...

Thanks... some mixed opinions there.

Lack of subtitle support is a fairly major problem (not for me, but other viewers of the files), and not being able to choose which is the "main feature" could be.

Not bothered that it won't do HD, nor do I . (Not on the Mac anyway- that's why I got the PS3, as a BluRay player)

Think I'll hang on and wait to see if a Mark 2 comes out...

I've been using the Turbo to assist Eye TV encoding, as well as using it as a standalone app. There's no doubt that there is an increase in the speed, depending on how high you want the output quality, but as I only use it for the Touch, lower will suffice.
Elgato were doing a deal on it...... don't know whether it's still on.