H.264 Hardware Encoder

Oh what fun we can have with something like this:
ElGato h.264 USB encoder stick.

I don't see any plugs on it, but I'm guessing it has a composite and svideo input? What about component? hdmi? I will post links with more information if I can find it.

Presumably, this would allow someone to stream a H.254 stream to the Apple TV without much CPU overhead (the encoding is done on the stick).

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