Recording Console Gameplay Directly My Way (Read Description)

This explains the new setup I have so you can do it as well. It's relatively inexpensive for recording gameplay directly when you cannot use a capture card like me. IF you shop around for good prices!

Annotation corner:
0:00 Quick note: I got all of the equipment shown in this video from Amazon.com.
0:30 By the way, the video editor I decided to get for this setup is the "Cyberlink Powerdirector 8 Deluxe".
2:50 I eventually swapped this camcorder with a Canon Powershot G12.

As far as I can tell, this is by far the most unique and portable game recording setup on Youtube. I call it the "Double Camcorder" setup.

Bonus tip: If you are using a capture card, this will work for you as well. You simply do not need the extra camcorder with AV-in and the female-female coupler. Just plug the other ends of the splitter cables right into the capture card. No coupler needed.

Also, if you only have a white and yellow cord on your av-in camcorder, no worries, you'll just be recording in mono-sound. It'll still work, you'll just need one less splitter cable.

July 23, 2013 edit: Having trouble finding a camcorder with AV-in? I did too because most don't have it. But I recently found this list of camcorders with and without AV-in that should help you track one down for your needs:
http://www.4kam.com/camcorders_with_av-in_av_input.htm

August 18, 2015 edit: I found another list of camcorders with AV-in:
http://www.dogcamsport.co.uk/avcamcorders.htm

Enjoy!