I bought a "Galletto 1260" from dealextreme.

In order for it to work on Windows7 32bit, I had to use NOT the drivers that are automatically downloaded from Windows Update (which are the latest version 2.10.xx and can be found on ftdichip.com ) but the old ones that can be found in the "EOBD2_DRIVERS_2K_XP" folder in the CD supplied with the device. They are version 3.xx.something and can be found on the ftdichip.com website at the bottom of the page under "Windows98/ME" :o

That said, I took it apart to see what's inside.

The wires connected are:
+VBATT
L-Line
K-Line
SIGNAL GROUND + CHASSIS GROUND (soldered together)

The main IC is a FT232RL and the other IC is a Texas Instruments LM393 double voltage comparator.

I cant't post the images directly, probably some rule of the forum that I'm too lazy to read so I'll just paste the links, I hope nobody gets angry :P

http://i.imgur.com/WxXxGEw.jpg

http://i.imgur.com/eL8FupJ.jpg

http://i.imgur.com/Ls8hiTi.jpg

http://i.imgur.com/Xk5JLWw.jpg