Ports can be used as input or output. There are three modes for standalone use: thru (one port to 7 ports), merge (7 ports to one port) and 1->3, 2->4, 5->7, 6->8 routing. It'd be great if there was used definable extra mode for standalone use. Excellent value for money. Build quality is fantastic, it's a solid box.
It's bus powered but when it's not connected to the power brick, it will not provide power to the USB hub ports, at least not enough to power a Novation Launchkey.
USB hub in the back doesn't function as a midi host (it doesn't claim to be one, just adding this information to be clear if someone wonders.)