Yip, I use a HAVA device, heres a link to my exact one, http://www.monsoonmultimedia.com/pro...8&Submit4.y=11
It basically streams my Xbox to a PC and you can record, while at the same time lets me see my Xbox in 1080i on the TV So it works like this; Xbox to HAVA, HAVA with ethernet to laptop and HAVA with component (1080i) to my TV.
As for software, I use Sony Vegas and a few of the plug-ins like blur motion, glow, saturation adjust, light rays....Lol theres alot of effects and that is why the video is not in 720p, my PC couldn't render it. I have other videos at 720p but this video just had too much in it for HD.