Hauppauge has release a new HD-PVR 2. Now with HDMI. Pretty cheap too! Newegg and others are selling it for $160!
Unfortunately, it's not a great solution for a PS3 gamer since their HDMI is encrypted, severely limiting what you can record. But on the 360, it seems like a great option or alternative to the El Gato. I wish it could do 1080p60 but I guess that's a limitation of the USB 2.0 interface. And I guess it doesn't really matter if you upload your videos to Youtube which transcodes it to 30 fps anyway.
Huge Hauppauge PS3 disclaimer on the page: Note: HD PVR 2 will not record video from HDMI with HDCP copy protection. If you are recording PS3 gameplay, use the included PS3 component video gaming cable. When we designed the HD PVR 2, we wanted to reduce the number of cables, so we designed a Component video to HDMI converter inside HD PVR 2. So, even though you need to use Component video to record from a PS3, you can use HDMI to connect to your TV set.http://www.hauppauge.com/site/products/data_hdpvr2-gaming.html
Record video game play in HD on your laptop or desktop PC
HD PVR 2 Gaming Edition records high definition video from a Sony® PlayStation®3 or Microsoft® Xbox® 360 onto your Windows laptop or desktop PC, in a high definition H.264 format. Make video recordings of your best game play in HD. Upload your favorite games to YouTube and share them with other gamers online. Or make a high definition movie of your game play to share with your friends or use it to discuss tactics with your clan members!
You can also play your game play recordings back onto your PC screen or transfer them over your home network for playback on a PS3 or Xbox 360.
New!Now with HDMI and Component Video in, Plus no-delay HDMI video passthrough!
HD PVR 2 now comes with HDMI in and out to make it easier to connect to your Xbox 360 and your HD TV set. For the PS3, HD PVR 2 comes with a PS3 Component Video gaming cable, while still using the HDMI out for no-delay passthrough to your HD TV set!
The Record button is mounted on
top of HD PVR 2, and makes it easy to
start and stop your gameplay recordings!
New! Now with a Record button, so you can start and stop your video recordings directly from the HD PVR 2HD PVR 2 has a top mounted record button.
Hit the record button and ShowBiz opens on your PC and starts recording. Hit the record button again and ShowBiz will stop recording. This makes recording your video gameplay super easy!