I have a Pixco focal reducer (MD-to-MFT), and I've been happy with it for the price. Note that some sellers (wherever they may be) may accept an offer below the listing price, which can make it a safer bet if you're unsure.
For MD, there are a couple lenses that had aperture pins that hit the front element surround. I was able to grind them down, but I don't know that you'd even run into that with M42. Aside from that, and for the lenses that fit better, it's been decent. There is some noticeable (but very easily corrected) purple fringing in some situations, and the edges/corners are not as sharp as I'd like on wider lenses. If you're not pixel peeping or you're mostly shooting closer subjects, you might not even notice.
I mainly bought it to use with wider lenses for video, and I do use it a lot with a Sigma 24mm in that regard. But the surprise hit has been my 70-300mm: it becomes a ~50-210mm f/3.2-4 that is reasonably sharp edge to edge. For photography, I've used it with that lens more than any other. The soft edges with 24-50mm primes keeps me from using it for anything where I want edge-to-edge sharpness.
As long as you go in with the right expectations and aren't expecting it to be perfect with every lens, I think it's worth the money.