I think Jaxel uses the Black Magic Intensity Pro. I've been considering buying one but the cheapest one around here is $450 so screw that. The problem with most capture cards is that they have delay from the time you press a button till it shows up on the screen.
I know of two HD cards which can take input from component and/or component+HDMI and output 720p at 60 frames per second. The Intensity Pro can take input from both and the Hauppauge HD PVR can take input from component (the PS3 has HDCP anyway). The Hauppauge HD PVR actually costs less than it's own weight in gold, it's only $270 but I heard that it has half a second input delay which ruins everything.