I would like to try a Framemeister for game footage capture. ......... Also wondering if the Framemeister has that stupid HDMI flag which prevents you from recording the signal like the PS3 does but the Xbox 360 does not.
In addition to what SuperDeadite said, you can also just mod the RGB to mini-din8 adapter that comes with it.
About the HDMI recording flag, no, it doesn't have one. If you're feeding HDMI input into it though, it will keep the flag if the original signal has it. For what you want to do with it though it would be fine.
The Framemeister has honestly been the best addition to my game collection I've made in the last 10 years. If you guys have the means, I can't recommend one enough.