I don't have it setup yet, but it's "game capture HD". It says that it can do 60fps capturing on all resolutions except 1080p. It actually lists both 240p and 288p individually, among other resolutions.
There is no printed manual, but a quick search turned up both:
"hardware h.264 encoder"
and
"Once you've captured your raw footage, you can either keep it uncompressed, or have the program automatically compress the video into a codec of your choice."
I ordered an external Hauppauge HD-PVR when they first came out and I had to return it as defective.