Elgato's Game Capture HD allows you to record console game footage, with devices being connected using plain HDMI (for Xbox and iOS devices) or a Component cable.
The PlayStation 3 encrypts its digital output even when playing games, so a PlayStation-specific Component cable is provided. An adaptor with five female phono connectors (two for stereo audio) is also supplied for other Component devices, such as the Wii.
No other cables are needed, since enough power is drawn from your computer over USB. A hardware encoder turns the input into H.264 video and AAC audio.
However, there is some latency, so you need to connect to a TV for playing the game as well as to your Mac for recording it. Footage can quickly be sliced, stitched and posted to Facebook, YouTube and Twitter from the interface's Edit tab. It can also be sent to iMovie or Movie Maker for more refined editing, even if only to add a voiceover.
The lack of 1080p support on the Game Capture HD is our only real source of dismay. Even so, 720p captures are silky smooth and impressively crisp, even over an analogue connection from a PlayStation 3.
UPDATE: 1080p support has now been added to the device.