Capturing v4l and line-in audio using mencoder works very well, but I would like to record real-time gameplay video from consoles plugged into the video card.

I've used xawtv for this (Works quite well, can preview and record in real time), but when I enable any deinterlacing or aspect ration options the video fails to record. I have to record raw and re-encode the video with the appropriate filters later to get something workable.

Other things I have tried:

tvtime with xvidcap and jack audio capture - xvidcap drops frames and muxing the audio is impossible as it will go out of sync (I have not found muxer options that work to force a correct frame rate)

mencoder capture to file, attempt to pipe tail of file to mplayer... mencoder works great, piping the file is far too heavy to attempt gameplay.

Soooo, v4l capture and preview simultaneously, recommendations?