First, this cable can transfer an HDMI audio and video signal from a source (I've tested with a Comcast HD DVR and a DVD player) to a TV.
Second, this cable is not shielded.
What this means, is that this cable can do most of what one costing 20 times as much can do: provide a clear digital connection. With a digital connection, the quality of the cable isn't very relevant, as you just need to get the signal across, not get it across in good shape. Therefore, a quality expensive cable is a waste of money.
The downside is that an unshielded cable does 2 things: accepts interference and causes interference. What this means is if you lay the HDMI cable too close to the power cable of the device or another cable carrying signal, it may pick up interference. A little interference, no big deal, the beauty of digital signals is that picture quality is the same. Enough interference, though, and the signal can't get through properly. I saw this happen with my HD cable box, and was able to cure it by moving the HDMI and power cable farther apart. Until I realized the problem, though, I was getting no picture.
The other problem with an unshielded cable is it causes interference. When my DVD player is turned on, it throws enough interference through the HDMI cable that my (also unshielded) OTA HD antenna cable receives interference. Turn the DVD off, and it's fine again.
Bottom line: if you're ok with having to carefully setup this cable so it doesn't receive too much interference from other sources, or send too much interference into other sources, this cable will do a great job and will be a steal. If you're not the DIY type, you might be frustrated with this cable. You'll get a better quality cable if you pay way more, but for me, this is well worth it.