This is an HDMI de-embedder which allows pulling the LPCM audio track off of the HDMI signal and routing it out via toslink. This allows listening to hi-rez DVD-A and LPCM-converted SACD on a conventional DAC. I'm no longer using it since I'm now simply playing straight over HDMI into my receiver.
See the discussion here
http://www.audiocircle.com/index.php?topic=82217.0 for more info.
Asking $75
