The Elgato is a fairly new device that everyone seems to think is better than the Hauppage PVR.. Well let me be the first to tell you its not. The Elgato requires a decent pc for you to make 1080p movies, even 720p without dropping frames. The reason being is that it used your PC to encode the mp4 when you have finished recording.
On the other hand, the hauppage PVR, does not use your PC to encode. It uses the hauppage recorder itself to record and saves it on your pc.. This is so much better, for example, last night i tried to record some Xbox One gameplay using the ELGATO, but it just drops frames.. So just a suggestion, get a hauuppage.. it does everyhting for you. much nicer.