Well,

Other similar products had been sold under the pretense of being a backup device. The general idea was if word dies on you all of the text which you have already typed can be recovered. Of course any copy/pasting (which is my fav will be lost which limits the usefullnes of that feature.

I had hoped that people interested in embedded systems and design might want to play with it as a sort of intro toy. The unit works out of the box and provides the source code/schematic. Since it is easy to reprogram it over the PS/2 keyboard port you can edit the code to make it do completly whacky things and upload it to the unit.

The micro has SPI on it so an example project would be an RS232 to keypress or keypress to RS232 converter.

Additionally, in the catching passwords department, a hardware keylogger can snag your bios password which a software based one won't.