Good way of getting a valuable Real Time Clock in your CD32 too!
But seriously, with this you can also plug in a sound sampler or video digitiser as well. So you could record samples and capture images and clips and save them to a floppy disk. Good way of exporting all your saved games from the limited NVRAM too, so you can wipe them and save more games. It sucks when its full and you can't save the game you're playing.