A:Answer Yes. You can hook it up to any device that has an HDMI output, but you'll only notice a difference when it comes to newer media such as video games with 3D graphics (Super Mario 64, on the N64, etc).
You won't notice much with the 8 to 16 bit Era of video games, as titles from that Era were mostly relegated to sprite based characters and assets, which were manually drawn, limited to the 2D, pixelated and individually animated objects & characters.
If you use this on the current generation of consoles, you'll notice slightly smoother textures with slightly smoother animation, but not too much, as the current generation already boasts powerful specifications.