Tested with a SATA II 320, conforms to all expectations: fast and well recognized.
The virtual CD works fine (tested on Windows 7-8 and Debian, as well as UEFI and BIOS boot). However, it must reboot the machine so that the CD is taken into account first. Many OS and live CD were tested without worries. I was even able to reinstall Windows 7 on a machine this way.
Caution, however, the USB 3 cable is short and can not be stored in the bag supplied. The only downside for this product.