Not even close... Blackmagic Inensity series record, process, and output 1080P video. HDMI is much faster and cleaner than component. How can you honestly say that it is better? Don't you think the need for USB 3.0 means something as far as quality goes?
If you are looking for a cheap capture card and have a mid-tier computer. Go with the AVerTV HD DVR. It's an internal card that goes into your computer. All you really need to buy is the card, a powered HDMI splitter, and the three HDMI cables at max. I bought this setup recently and it cost me $130.