Getting it from Ebay I forgot that there could be PAL/NTSC differences :-( I got the NTSC version.
Anyway after installing it and trying it out the following strange things happen.
Feeding it a signal over S-Video from my cable box, I capture clean video but the audio is chipmunk like and warbly (like somebody is talking under water). I would have thought that sending it a PAL signal would mean nothing is captured.
A quick check of the MPG file created indicates it's NTSC.
Does anybody have any explanation why it can even capture at all and since it can, why only audio is distorted, video is fine.