The Blackmagic-Design Teranex 2D Processor is an advanced-quality standards converter as well as video format converter and capture and playback device all-in-one. As a standards converter, it can convert from most any television format to any other television format in the highest quality. Conversions are indistinguishable from the original master. And as for capture/playback functionality, the Teranex can simultaneously convert formats and -- via Thunderbolt -- capture files into a computer for editing.