Ermmm... Isn't this soley a conversion and patch-bay type of thingy? I don't think it's REalTime as RT Editing, anything, just all the good, excellent bits Canopus do to convert stuff - or am I missing something? If it is what your title implies - hmmm.... - However, good to see Canopus got it all together in one card though. Clean and simple.
What would be really interesting is the price of the card + V4 - yeah?
Yeah, it is basically a firewire and analog card all in one, but it won't reduce rendering times or anything like that, I believe only the Raptor series cards (RT=Real Time) will do true real time editing and printing back to tape.