I bought this for my girlfriend, who is a singer and wanted to start recording herself. She couldn't afford the sound interface for her condenser microphone, so this was a great solution. It has phantom power, is very small and for the price we couldn't ask for more. It is a great solution if you are tight on a budget and want to record to your computer.
The sound quality is OK, it is not the best, but for basic recording and with some postproduction it serves as a nice tool for recording with microphones. At higher gain levels you can hear some noise and the signal is not as strong as on external sound card or audio interface, but is enough to get you going.
The thing that convinced me buying this product was the price vs. performance ratio. But if you want better quality sound, you should buy and audio interface of some sort, because this is not suitable for professional recordings.
The only thing that bothered me is the button for turning on the phantom power. It feels kind of weak and cannot feel the "click" very confidently.