Having just purchased the turbo.264 HD from Elgato I have now purchased their new Video Capture device.
Transfer video to your Mac from a VCR, DVR, camcorder, or any other analog video device as an iTunes-ready H.264 or MPEG-4 file. Elgato Video Capture’s easy-to-use software assists you through every step, from connecting an analog video source to recording the video on your Mac and choosing how you will watch and share it.
There is no easier way to transfer home video to your Mac to play in QuickTime, to sync with an iPod, iPhone or Apple TV, to edit in iMovie, or to upload to YouTube.
I have been looking for something like this from Elgato for some time. I have a couple of Pinnacle devices for capturing video, however either they capture without a preview which is fine for most things, but not all. Or it is Windows only and this means adding extra conversion time to use the captured footage with iMovie or similar.
I use to be able to do it with my original EyeTV device, however that did not capture at a sufficient quality, but this was a fair few years ago now.
So now I have one, still in the bag at the moment.