I've said all the following before, but to refresh memories...
I have two Lenkeng component>S-Video converters, one purchased directly from China, and one from MP.
I have an Audio Authority component>S-Video converter.
I have an Atlona component>S-Video converter.
None of these units are perfect. They all cause a little shift from blue to green. None of them make as dark a black as one would want.
I have had good luck, and been reasonably satisfied with the Lenkeng units. As Mark says, their picture is not quite as good as S-Video direct from my DVRs. But, they are consistent, and I have not had some of the problems with them that I have had with the more expensive units. And, producing an anamorphic picture is a definite plus.
The Audio Authority and Atlona units look identical, except for the the font of the labels on the switches, etc. Both have performed pretty much the same. They do have a brighter, sharper picture than the Lenkengs. But, both also tend to over-darken dark scenes, especially in B&W, but also in color. Both can have problems correctly framing LB pictures from SD sources, such as the Sundance Channel, Flix, and FMC. You have to trick it, by switching directly from a SD channel with a full-frame picture, to the one you want to record. I seem to have a special problem with them, using TCMHD. TCMHD puts a thin black border on all sides of a WS picture. When I start playing such a picture, it will be correctly centered. Then, sometime, from 1 - ~15 minutes, the picture will shift to the right, so there is no thin black border on the right, and a double wide one on the left.
But, my main problem with both units is that there is an occasional horizontal shear, maybe once or twice in a film, or maybe not at all, lasting from a second or two, to a minute or so. What seems to happen is that below this shear line, the previous frame is displayed. So, this is only really visible when there is movement, or at a scene change. If you pause a recording of the problem at a scene change, you will see part of the last frame of one scene, and part of the first frame of the other. This can happen on any channel. This happens to me when I am recording something I am playing back on the DVR, I can replay the same scene with the sheer, and the second time it won't be there. Weird, isn't it?