So I got my hands on a capture card now. I decided to get one since there are a number of projects that a friend of mine and I could use one for. It captures in HD up to 1080i from HDMI, so there is a lot of potential there. I decided to capture the first couple of Halo 3 clips saved to my Xbox to see how it looks and I have to say that I am pretty pleased with the quality. Of course the files are many GB per clip and they have to be compressed before they can be posted here. However, even rendering them out at only 3000kbps they look a lot better then the clips I got from Bungie Pro for the Reach Beta video that I made a little while back.
Anyway, here are some random Halo 3 clips. They are not edited at all as this is just a test to see how they look after being compressed for the web. I can go a lot higher then 3000kbps, so any final video that I make will certainly have much higher quality then this.