The output PQ of any of the inexpensive composite to s-video conversion devices will leave something to be desired. The s-video PQ won't be as good as s-video out of a STB.
I have and 811 and I do my DVD recording off the s-video output. The composite output is definitely softer and lacks the resolution clarity of the s-video output. The s-video out produces adequate DVD recordings. Garbage in, garbage out. Recordings of E* HD and OTA HD & DTV broadcasts produce excellent video, less the widescreen capability. Recordings of E* SD produce the same level of crap PQ as is provided by E* going in. No worse, sometimes a little better.
The lack of an s-video output on the 942 is a technological step backward and another of several fatal flaws with that unit. Coupled with having only one OTA tuner and no path forward to MPEG-4, it would only be deal as a monthly charge rental, nothing down/