I'd like to use it for recording Super Smash Bros. Brawl on the Nintendo Wii, and Halo 3 on the Microsoft Xbox 360. It would DEFINITELY have to be external, because my PC is upstairs, but these two consoles are downstairs. I do, however, have a laptop, which I can use to record the games, then port them to the PC.

Something around the range of £10-50 GBP would be best.