Got my "micromix" today, and have spent a half hour playing around with it - I've gotta say, it's better than I expected. Plenty of gain, and a REALLY low noise floor, it's really quiet.
At the moment, I've only just had it plugged in to my mobile rig, a Fostex Vf160 - so the only thing I've compared it to is the built-in pres on the Fostex (which aren't great). It's outperforming those, without question.
So, without further testing, I'm not gonna pretend it's the greatest preamp in the world - but, I can definitely tell you that it's NOT junk. At $45 (ebay) for an extra channel of mic pre w/phantom, it's something I'm really happy to have in my toolbox (just in case). About the size of two packs of cigarettes, really solid-feeling, doesn't sound thin or tinny, really quiet. That's about all I could ever ask for out a box like this.
If under fifty bucks is the most your budget will allow and you've got a condensor but no phantom power available, this will work just fine for you. Does exactly what it's supposed to, and doesn't seem to cheese out the sound. Again, I'm not gonna go out on a limb and give it a glowing review, but it seems to be... just fine.