There is a product like that, but you can only record in 480p I think, because it doesn't use HDMI, it uses AV cables. It converts AV into usb then you download a program to display it on the screen, and it does the capturing for you. The capture files are very big, so you'll want to decompress it in Windows Movie Maker after you get it all recorded.
I can't remember what it's called, the program or the device, sorry