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The converters are not vaporware. I have one. They do seem to be only available by mail order though. I purchased mine from Newegg.com.
It works ok on over-the-air signals as I am fairly close to the transmitters. As long as it does work, it is great-no snow at all. When it doesn't work it is fairly irritating as the picture pixellates or freezes and the sound stops.
One thing that I have found is that the stations HDTV signal strength varies greatly here-Austin, Texas. The lone VHF station(thanks to LBJ), Fox, has a very weak HDTV signal, but a very strong analog signal. I cannot receive their HDTV signal(As do not ever watch them, it does not matter to me). I can receive the other network stations on HDTV as well as their UHF analog signals. The suprise is PBS. I get them much better with two seperate channels on HTDV, but can barely recieve their analog UHF single channel signal.
I do not know if the stations will change their HDTV signal transmit power levels here once the analog signals are turned off.
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