All European WipEout Convention 2009 videos were recorded using the Hauppauge HD-PVR.
It accepts component input up to 1080i (720p is better for motion though) and works like a.. well an exension for the cable, it outputs the same signal as component for your TV with no lag and outputs it as h.264 via USB for the PC. Since conversion is done in the box your PC only needs some disk space and be fast enough to receive all the data (up to 15mb/s) and save it.