So far, the Kinograph seems to have been used mostly for converting old Hollywood movies but the technology should work on those old home movies you are keeping in the closet. However, you cannot go out and purchase a Kinograph off the shelf. An online video from Reuters shows inventor Matthew Epler describing how the Kinograph works. The video leaves an impression that anyone else could create a similar Kinograph, if they possess a certain level of computer and mechanical skills.
You can watch the video at http://goo.gl/PqqNm.
My thanks to newsletter reader Jay Crossman for telling me about the Kinograph.