Will this Adapter Work?

Will that adapter allow me to run a phone line through asterisk?

This looks very similar to the PCPhoneline adapter (VTA1000) as per this link: pcphoneline.com/pcphoneline/pcphoneline.htm. I have used this one with Asterisk and it works fine. You need an analogue phone to plug into it but works perfectly. The PCPhoneline adapter uses Firefly softphone software.

it’s unlikely to give FXO connectivity to Asterisk, if it’s like the IAX/SIP ATA’s generally available for that price it functions as an ATA, allowing you to connect an analogue phone to Asterisk, but you have a key-combo that switches between using Asterisk or the PSTN connected to it. incoming calls will ring the analogue phone only, and will not be forwarded to your Asterisk server.