It’s a turntable (belt-driven) that can spin at either 33 and a third or 45 rpm’s and can connect to your computer for ripping or for recording your own custom DJ mixes. The best part about choosing the Sony unit over any other USB turntable is that you get a free copy of Sony’s Sound Forge Audio Studio with your purchase.
Sure its not the most powerful audio editing software, but its better than a lot of the competitors out there, and its free. Regarding the turntable, I believe you can also just plug it into your home stereo or whatever and use it just like a regular turntable.
So, you could rip your old LPs to your iPod or create your latest club mix, there is also a bonded diamond stylus that should reduce the wear on your precious vinyl. If you want one, they’ll be dropping next month for $150.