Summary: First the cons; It's not automatic so it requires monitoring during recording. The RCA cords are permanently attached and somewhat in the way. If you are using a MAC you need a lot of patience. It took me three days and tech support to get it working. Audacity can be just that.
Summary: Good deal. I would buy this off the shelf rather than order from NewEgg. Oh yeah I had too. Took 'em a week to find out (after I was charged for it) they didn't have any in stock. First time this has happened and I am still ordering items from NewEgg because I have had more pleasant experiences than...
Pros: Pros are simple setup, installed software easily. Started converting old vinyls into digital format!
Cons: MUST I repeat MUST install iTunes to convert and that sucks!