I own a UCA202, I find the latency bad enough that it wrecks the joy of trying to use guitar amp sims. It is pretty low noise though. So if you don't needed to hear back real, real, time it will work. If I remember right the lowest latency I could get was about 25 milliseconds. For real time monitoring I like to have latency less than 10ms.
So I guess the answer as to if it will work for you, I guess it depends. If your just wanting to make some kind of interview/speech broadcast I would probably be fine. If your wanting to use your PC as an effects loop for a guitar while playing 16th notes, probably not so much. As I said it works, It just wrecks the joy.
Racherik