Hmmm, that looks nice.. What advantages to you have with it? I don't know of any monitors that have S-Video in. Are you using on of those switch box thingies?
The advantage (here in the USA) is that we don't have SCART. So the closest we can get to RGB in is S-Video or Component video. Since component video is hard to convert from RGB (without building your own device or spending a lot of money) s-video was the next best option.
It works very well. Non-interlaced screens are very clear and completely stable. Interlace shows some flicker and is a little blurry, but still useable.
On my LCD TV, I can scan double everything going to VGA in, and then when I want to play games, I can switch over to S-Video (no unplugging anything) and see it in full color.