Record Video from the PS3… options?

I’m sure this has been covered to death but I refuse to believe that there are only a half dozen, really crappy or really expensive ways to record video from the PS3. It seemed that the cheap way was to record and play in standard definition (Dazzle or BlackMagic Video Recorder) or the inconvenient expensive ways were to record in SD and play in HD (HDMI Splitter +HDMI to Composite Downconverter(super expensive) +Dazzle), or to play and record in HD (Video capture cards and going from 56" tv to a 22" monitor or an HDPVR). I’m curious what the best/cheapest solution is to be able to play in HD on my main television and still record game videos in either HD or SD.