Elgato has announced Game Capture HD, a USB device that will record gameplay from a Microsoft Xbox 360 or Sony PlayStation 3 and send it to a Mac or PC. The little dongle requires no power supply, and it uses HDMI to record HD footage from a Xbox 360 and AV to record from a PlayStation 3. Elgato uses H.264 video compression to capture 480i, 576p, 720p or 1080i video. Theoretically, Game Capture HD will also work to capture most signals from other HDMI/component-enabled devices.
When capturing gameplay footage with the new device, you can still keep playing on a regular TV via HDMI. The desktop software allows you to edit and timeshift footage before saving it or sharing the video on Facebook, Twitter and YouTube.