Perfect
I bought one for Feet of Fury and it works perfectly! No lag at all! I also use the keyboard adapter for Quake 3 and it works great.

Good product for almost every game
Problem is with all Street fighter games is you cant use R2 with this converter which results in you using L1 & R1 instead which is not much fun.

doesn't work with HRAP
doesnt work with the HRAP stick, it doesn't recognize the r1/r2 buttons so you can't get a good fighting game layout for 6 button fighting games.

does exactly what it says
another controller adapter that works perfectly, no problems in using official PS2 controllers and also works just right with Hori Fighting Stick.