This story was reported a couple days ago by thetanooki.com.
I'm not tech-savvy enough to know what this all means, but:
Apparently it will be for sale tomorrow for the price of $75. The company website is here.
* Input: Wii AV Connector x 1, USB Type A Plug x 1.
* Output: HDMI x1 , 3.5mm Stereo Audio Jack.
* Video In Supported: EDTV(480i/576i), SDTV(480p/576p)
* Video Out Supported : 480p, 720p, 1080i, 1080p, 1280×1024, 1440×900, 1650×1050 (at refresh rate 59.94Hz)
* Audio Out: HDMI audio, Analog audio.
* Bi-Color LED: Blue and Red.
* Operating Temperature: 5°C to 60°C (41°F to 140°F)
* Dimensions (approximate): 12cm (L) x 7cm (W) x 2.5cm (H)
* Mass (approximate): ~180g
Powerful Video Signal conversion
* Crystal shape image, Outstanding picture quality.
* Full HD (1080p) output.
* True 10-Bits high definition video scaler engine.
* AV grade scaler engine
* No external power required.
* Easy to setup.
* LED status indication.
Wide Range Video Display support
* Support TV (HDMI) and PC Monitor (DVI).
* HDMI-Audio and Analog audio out.
* Various HDTV video out.
* Native resolution for LCD monitor.