From Alan's post in the "AVS Forum Power Buys and Special Items" section
The MP-1 mod is a high bandwidth RGB true 75 ohm line driver and filter circuit. It has a dual output that will allow two different output voltages. The voltage level for each of the three driver stages can be selected by using three mini jumpers that are attached on the mod circuit. Removing the jumpers will put the mod in the unity gain state
(0.7Vpp in - 0.7Vpp out). With the jumpers on, the output level should be 0.76 to 0.79 Vpp output, with a 0.7 Vpp input. The circuits filtering should produce a cleaner desktop, with tighter lines and text. There should also be an improvement in black detail, providing an improvement in image quality and much better color rendering. Much of this is accomplished from a very unique filtering process, that’s also supported by a mini isolated switching power supply. In order to truly reap the stated benefits, the MP-1 must have complimentary true 75 ohm high bandwidth cables and associated switchers (if used).
I believe that main benifit is for CRT projectors. Mike is/was to be building another version for the other types of projectors.