My old Panasonic DVD recorder could convert composite to component on the fly (not just for the recording, where it has to), I'd imagine most of them do. The Panny in particular had a really good comb filter so the results were quite good, better than most cheap converters and honestly most HDTVs. Of course these have a delay but for capturing one probably would not care.
That's really interesting, so I dig more information and it actually fits your explanation
That Philips DVDR is being sold as broken, but its only the drive that's not reading nor recording and I just found out that it is an actual computer DVD-RW IDE drive that can be easily replaced, well I actually don care, I just need the inputs and outputs working but watch some DVD movies I have laying around here would be a bonus, and the guy is selling for dirty cheap
So the philips DVDR 615 uses a VIP SAA7118 Multistandard video decoder with adaptive comb filter and component video input, according to the data sheet:
"Philips X-VIP is a new multistandard comb filter video
decoder chip with additional component processing,
providing high quality, optionally scaled, video.
The SAA7118 is a combination of a four-channel analog
preprocessing circuit including source selection,
anti-aliasing filter and ADC with succeeding decimation
filters from 27 to 13.5 MHz data rate. Each preprocessing
channel comes with an automatic clamp and gain control.
The SAA7118 combines a Clock Generation Circuit
(CGC), a digital multistandard decoder containing
two-dimensional chrominance/luminance separation by an
adaptive comb filter and a high performance scaler,
including variable horizontal and vertical up and
downscaling and a brightness, contrast and saturation
control circuit."
That's all beautifull techy words but I needed an actual opinion from someone who actually played video games in it, then I found it on digitalpress.com forum:
" - What I was saying is that I HAVE been doing this for nearly ten years successfully and was just wondering if anyone else was trying or had tried it with the same results. As for the picture being improved, I would say that it is brighter, sharper, and with deeper colors. As previously mentioned, it's on an old, cheap (even back then) Philips DVD-Recorder. As for lag, I have not once noticed any"