After spending some time with the program that came with the capture device. I took a few screen shots, and recorded some videos using each of the formats available. Here are the results.
For the videos I played Ultimate Marvel vs Capcom 3 because that game can have so much stuff happening on screen at the same time while being so vibrant makes it fitting for a video test to see if the hardware or software chugs.
As for the screenshots, I took some screens in UMvC3 and Naruto Shippuden: Ultimate Ninja Storm 2.
Note: The TV I was using during the capture of these videos and images was a Panasonic CRT TV. I have not yet confirmed if the image quality would look better if captured while playing on an HDTV.