Designed for DJs, the Versa Port has two stereo analog inputs (on 4 RCA jacks), one analog mic input (on a non-standard TRS connector), two stereo analog outputs (on 4 RCA jacks), a single ground connector for turntable input and a headphone output. One of the RCA inputs can be switched between line-level input and phono input (going through a phono preamp). This could be used to convert vinyl LPs to digital audio as it has a phono level input (ie. a phono preamp). It can also be used with DJ software that is driven by timecode on vinyl.
However, it seems from the manual that only one of the stereo inputs has a phono preamp: "Note: You can only connect a record player to Input 2. When a record player is connected to Input 2 the Line In/Phono switch must be in the phone position (pushed in)." Therefore, the Versa Port seems to not be usable with two traditional turntables. Therefore, at least one input must be line-level, such as a CD player.