[quote name='Jackie Chandler']Oh, really? I didn't know that. I guess it only captures/streams in SD because costs for HD hardware would be too expensive then.[/QUOTE]
Exactly. That is why they can offer the device for MSRB of $99.99. HD capture devices (such as the Hauppauge HD PVR) cost over double that. Highest you can get with this device is 480p which is considered EDTV (Enhanced Definition TV), tho I can personally say it looks a little worse than that. For example, a number of Wii games are 480p but they don't look as good in recording as they do on your TV. It is still good quality, especially for something like YouTube or Justin.tv, but it isn't perfect.
In short if you want to be able to stream or capture and you're on a budget and you're not super OCD about quality, this will do the trick. Otherwise you'd be best saving up for an Hauppauge HD PVR, something I myself really want but it is out of my price range.
I hope I was helpful, if anyone has anymore questions I'll try my best to answer them.