Yep, using a HD PVR.
I never noticed this before, but the colours are sorta washed out and some of the details can be quite flaky... but mostly I'm concerned about colour-desaturation.
It looks like most of the Youtubers do their own colour correction/add saturation filters to their HD PVR-capped videos to make it look more in-line with what you'd see on an HDTV. I'm a little disappointed that there's no quick-fix saturation/sharpening setting you can tweak with to improve the results - the built-in settings within the ArcSoft software doesn't actually do anything, strangely enough.
@Kaminos: hey, cool, so you're a games journalist in France?