PS3 -> Component -> HDMI out
360 -> HDMI -> HDMI out
Seems you can’t capture video from the PS3 using HDMI… Right now at least.
I have found 1 issue with my setup, it could be the older version of Desktop Video I am running, I think its 8.0.1 and the current is 8.5, if I switch from my PS3 to my 360 in the control panel, it will work fine. But is I go from my 360 to my PS3 more than once it just craps out on the RCA audio. A reboot fixes it… but its a tad annoying.