This app is not only extremely cheap when compared with other capture programs, but is a fantastic app in its own right. I had particular problems with capturing my footage within editing apps due to unknown errors popping up. With ugrabit, one simply connects the camera, chooses a quicktime codec with which to capture and presses save. It's that easy. Also, due to it using quicktime codecs, there is support for capturing 16:9 anamorphic footage under the DV-Stream selection. This makes it perfect for capturing prior to importing the files to editing software.
One nice feature for a future version might be to have the option to capture to a certain time limit only.
All in all a great app at a bargain price, and well worth registering, especailly if you're having problems capturing in other apps. Has saved me lots of time and headaches!