Yes, it connects to the back of a kenwood deck using the CD changer interface. It charges the iPod as well as provides a line level audio connection and some basic control.
You can not use the controls on the iPod while it is connected to the HU with this cable. You can use basic functions on the HU like play, pause, stop, next track and previous track. The ID3 information shows up on the HU screen as well. You can't chnager between artists, albums, but you can use the disc up/down buttons to switch between available playlists.
Its not perfect, but IMO, much better than FM modulation, tape adapter, or a basic line level connection with no control at all.