My wonderful girlfriend bought me the Happauge HD PVR for my birthday. Should be here Thursday. There are tons of good reviews for it on YouTube. It allows you to play and record in HD on the Component cables. I already run the component cables because my Astros run on the toslink/optical and I didn't feel like breaking the cable apart to have it and HDMI. It's exactly what I wanted. The video quality is awesome especially if your posting things to YouTube. The price is $200 so its not too cheap but I didn't want to go with a dazzle.
Happauge HD PVR
http://registration.hauppauge.com/webstore/hardware2.asp?product=hd_pvr
YouTube - Quality Test Video from a friend who just got one.
http://www.youtube.com/watch?v=oLlFZpDy07w
Now if you want the best quality you should go with the Black Magic Intensity Pro. This card has inputs and outputs in HDMI which is something someone might want but wasn't a must for me. Also this is a card that you have to install inside of your computer for it to work. Which is something I didn't want really. Seeing my computer already has enough stuff going on inside. I have a computer near my Xbox but this I didn't like the thought of having to run an HDMI cable from the card to the box, and one from the card to the TV. Which is why I ultimately decided on the Happauge, and is why I think most people do. It's right around $200 also.
Black Magic Intensity Pro
http://www.blackmagic-design.com/products/intensity/techspecs/
YouTube - Quality Test Video
http://www.youtube.com/watch?v=HFGp8Px_hW0
If you doing more professional quality videos for like DVDs then go with the Black Magic, but if you wanting to just be able to upload HD videos to YouTube then the Happauge is going to be just fine.