Hauppauge HD PVR 2- Gaming Edition :

http://www.hauppauge.com/site/products/data_hdpvr2-gaming.html

Where I bought it :

http://www.jr.com/hauppauge/pe/HAU_1480/

Where I bought the USB 2.0 cable :

http://www.monoprice.com/products/product.asp?c_id=103&cp_id=10303&cs_id=1030301&p_id=7643&seq=1&format=2

(I know I said it was 48ft but on the box it says 49ft Oh well)

PROS:
Records in 1080p
Uses HDMI inputs
Great easy to use software
Video quality is great !

CONS:
No Dolby Digital Sound Recording
The USB cable is to short
No HDMI recording for PS3 just XBOX 360
Need to use the HDMI cables from them
Need to buy a 3rd party USB 2.0 cable

I had to modify it to get it to work the way I wanted for me.