I have to say the device is great!
Very easy to set up and use. Able to play in HD and you can record and stream the games.
Recording of NHL 11 on Xbox 360 uploaded to Youtube
Live Stream recording on Justin.tv
You really don't need a great PC to run this device. It allows you to stream with Adobe FME which does recognize the device for video and audio. You don't need to run any screen capture software. Definitely worth it.