In all honesty, a Elgato cost's about $60-$80 more than another brand Capture card, that does the exact same thing, but also provides you with a semi professional video editor with that said Capture card. I'd recommend getting a Roxio Game Capture HD mainly because it comes with a $100 Free Video Editor that is similar to that of a Semi Professional one.
Elgato's are those that are very simple but kinda Expensive... Personally I wouldn't mind having one... but only the PCI E Elgato..
Best of luck!
~Zac's Custom