I have been looking for one of these for a while, all prices i find are around £59.99.
play-asia offer this for only £44 delivered. just ordered mine, hope this offer helps others
I've checked the reviews of this product and have found many 5 star reviews from foriegn buyers saying it obviously works with PAL systems because it uses a USB port (obviously). Just to immunise any worry about it not working.
Only problem there seems to be is that the instructions are in asian or chinese, however if you have basic knowledge of computers you'll work it out, if not, download english instructions offline.