Well, I have a SuperGen genlock installed in one of my Amiga 500 towers and it really produces a very nice color composite output. About the same quality as an XBOX hooked up to a TV. Amiga games and classic Amiga programs look great.
A genlock is basicly a video mixer. It has two inputs, a thru, and one or two outputs. The Amiga computer attaches to input one, and your video source attaches to input two. You can then record the Amiga's graphics onto your video. Deluxe Paint III is great for creating backgrounds and titles. The genlock color is usually black, but can also be green or blue. The genlock color is called color 0. Video will only show thru color 0 (genlock color). If color 0 is black, then you have to make a copy of black, so that you have two color blacks, Deluxe Paint III allows you to do this. One will be color 0 (genlock color) and the other will be normal black that you paint or draw with. Do not get the two blacks mixed up. There are genlocks that have S-Video inputs and outputs. These produce a clearer picture, with less fuzzyness around the edges. I still use genlocks today, and I just baught a SuperGen SX from eBay. The sliders are a genlocks weakness. They have a duty cycle of only 15,000, so they have to be replaced from time to time.