I recently got a Hauppauge HD PVR and barring the occaisonal wonkyness it makes for a great gaming capture device. Recorded some of multiplayer matches. Check it out for a laugh

YouTube - Uncharted 2 Multiplayer Montage of Mayhem

Oh and here's a random video I did using the same device for NES Virtual Console
http://www.youtube.com/watch?v=w_e7nlvzwCw