As well as all the usual PC/Mac stuff I have to look after at work I also have a 360, PS3 and a Wii (we do a computer games show). When we need to get footage off them we just use an S-Video out cable into a DVCAM deck, although you could record it using a capture card like a pinnacle or a hauppauge. The quality is more than good enough for SDTV.
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Cheers,

Andy M