Like new. I've had this one for years but I think I only used it once.
From the Velbon website:
Velbon Angle Changer D is a multi-angle changer for use as a standalone item or when mounted to a tripod head. It enables the user to set a camera in multiple angle positions.The adjustable base allows easy tilt adjustment of up to 10° and includes a 360 degree scale for smooth, precise panning and panorama shots. The Precision Leveller can be attached to tripods having 1/4" or 3/8" mounting screws and offers 1/4" or 3/8" options for mounting a head. There is a bubble level to help with accurate setup and ensure perfectly horizontal panning.