Yes, there are better units out there, but not until you reach the $150-up level. I commonly use the Ultralink version (prefer the one built into a 2 meter cord, composite on one end, s-vid on the other) for systems that are mostly S-video, but have one dastardly component that is composite. It simplifies A/V switching through an A/V receiver to go all one video type (in this case, s-vid).
Do not mistake these units as a way to upgrade your video quality, they are not, but do not seem to appreciably downgrade quality. If you need longer cable length Ultralink makes a little inline pod that you attach your own composite & s-video cables to...tape your connections as the module does not always attach snugly, and we don't really like crawling behind gear when we don't have to.