It's no secret that we're fans of video game streams around these parts (Paul Miller says he'll miss Twitch.tv most of all while he's offline this year), and if you're looking for a way to share your own gaming exploits, Elgato hopes you'll check out its just-announced Game Capture HD. The glossy black unit is about the size of a portable hard drive, and it's equipped with HDMI in / out ports, A/V in, and a Mini USB port — all you should need to record from an Xbox 360, PS3, or other HDMI / component-equipped device to a PC or Mac. The video footage gets pushed to your computer over a Mini USB cable, and the two HDMI ports on the unit mean that you can record while still outputting video to your TV screen. Unfortunately, the Game Capture HD doesn't support HDCP-encrypted HDMI feeds, so with devices like the PS3 you'll need to use component video cables to output video.
The unit comes with PC and Mac software, of course, that lets you do some minor editing (like clip trimming), and you can share video to social networks from within the app, too. In terms of quality, the unit records in H.264 up to 1080i with a maximum bitrate of 30mbps (check the video below for a sample of video recording from the unit). One feature that looks to set the Game Capture HD apart is "Flashback Recording," which maintains up to an hour buffer so that you can go back and start recording after you complete your epic 25 killstreak in Modern Warfare. While this isn't a great option for those looking to record streams from their PCs or Macs, we suspect some console gamers out there will be intrigued. If you consider youself among the latter group, you'll need to wait to early June to pick up the Game Capture HD for $199.99.