Where can I find a Video-capturing device that will take PAL input in addition to the NTSC and also provides excellent quality of mpeg2/mpeg1 capture?

I came across this External Video Capture called "USB Instant DVD" by ADS at :
http://www.adstech.com/products/USB_Instant_DVD/intro/usb700.asp?pid=USBAV-700
But, I am not sure if it will capture video from a PAL video source. Also, I am not sure if this unit can be connected to a PAL satellite receiver.
And if this unit happens to be PAL-NTSC compatible. Is it the best one in the market? This unit is priced around $150 at amazon.com which is still a little expensive

Can anyone help with this PAL/NTSC delimma ??