Which game recording device is best?

My friends and I have decided that one of us needs to get a game capture device so I can record some of the moments that we have while playing. So here's what information I can give:

-Price range of $100-250
-Records Xbox gaming (Halo, GTAV, Minecraft, CoD Ghosts, etc)
-Can work with/without a laptop
>Toshiba Satellite L875-S7208
> Intel (R) Core (TM) i3-2370M CPU @ 2.40GHz
>4 GB RAM and 750 GB HD (384 GB remaining)

I've looked at Roxio and Elgato but I'm not sure if there are any better ones and I'm just wanting a 2nd opinion. I have a somewhat decent internet speed (12-18 Mbps download and 1.5 Mbps upload) if that makes a difference.

I'm mainly wanting this, as stated above, to capture moments we have while playing games. Using these videos to create montages or short clips to upload to YouTube. Also to help my clan get more recognition (PMS|H2O Clan - PMS Herobrine here:3).

2nd question! Will this need any extra software, for video editing and whatnot or do these come with it? Please let me know!

If I were you I would try the AVerMedia - C875 that will set you back around $160. It can record PC, PS3, PS4, Wii U, Xbox 360 and the One (so pretty much All devices on the market).

Just note that you do NOT need a capture card for PC. You can try FRAPS, Bandicam, Ezvid, Hypercam, Shadowplay (for nvidia graphics cards) and others with a quick google.

For the editing software, you might need a little more money. You can always look up some tutorials for windows movie maker (surprisingly good) but if you have the money try buying Camtasia Studio or Sony Vegas. Camtasia Studio is much more intuitive, but until your clan / channel gets more popular I'd stick with Windows Movie Maker.

For those cool crazy montage effects like video pulsing and the spin slow mo epic crazy blahblah awesomeness you'll probably want to get and learn After Effects. You can check that out here:

https://www.adobe.com/...fects.html

The price is hidden for some reason, so I guess you'll have to try it out for free and see if you pay a one time fee or that $19.99 a month membership thing they have.

Here's an amazon link to the capture card:
http://www.amazon.com/...00B2IZ3B0/

Any Video Converter Ultimate can both record the screen, and convert the recorded video to format that can be loaded to Youtube.