Looks like it does a decent job, but really converting from a greyscale image is not the ideal way to work, in fact it's pretty much bumpmapping rather than normal mapping.
Pro normal maps are made from high detail object geometry, which is projected onto the low poly model, and a normal map to match the texture is created, won't look much like the texture itself, but the results are just incredible. I mean, normal maps are designed to be like 3D height maps, most greyscale to normal converters just work out the 3 angles from the height map and apply them to the RGB. It is possible to have really sharp edges with normal maps, although not when converted from heightmaps.
It takes quite a bit of expensive software to do this, and you need to be able to come up with the media, but it's the way to get things looking like they should. I'm actually thinking about making a DBPro variant of this technique for my next project, like get your low and high detail models, stick them in the same place, and work out the high poly detail for each texture coord and apply it to a normal map. If I could get that working, then I'd release it to the community.
''Stick that in your text and scroll it!.''
