Direct Feed A/V Capture?

A video card with VIVO (video in video out) or a descent TV tuner/capture card will allow you to capture composite and S video.

I believe what he is talking about is doing component video capture.
I'm also interested in finding this out as well. I've looked into the Blackmagic Intensity Pro. From speaking to their pre-sales techs they've said that live video capture/viewing in realtime is possible with their card. At some point in the next month or so I'm going to take the plunge and just purchase one to see if it's true. My only other issue is finding decent video viewing software which produces no noticeable lag, which is incredibly important when trying to record video game footage from a console, where timing is everything. So far my only luck has ever been with the Asus Digital VCR software which fortunately works with both my older ATI AIW and my current Hauppauge. Though if anyone else doing this has found better software, I'm definitely interested as well.