I recently bought an Elgato capture device with the intention of recording game footage. It's a really nice device, but the thing that really stands out for me is the unit's software half. I've owned my share of capture cards over my life and have always been disappointed in the quality of the recording software. If the software sucks, it doesn't really matter what you capture with the hardware. Without both working at or above your needs, it's pointless.
I'm hoping to pick up a PS3 sometime soon along with some wrestling games for cheap. I've fiddled with create-a-wrestler style games and matches for years now, but I'm getting the itch