Hello.
I've been been through numerous capture cards through the years. I'm currently using the Hauppage WinTV-DCR-2650. It's a CableCard external USB dual tuner (capable of recording one and watching one channel at a time, or recording two channels at once). I absolutely love it, but it does impose some possible inconveniences for you depending on preference and your cable provider.
It's an external USB device, meaning you'll have another small box next to your HTPC.
Depending on your cable provider (I have Charter, and am required to use this), you may need a Tuning Adapter. All this does is help your CableCard box tune subscription based channels like HBO, ShowTime etc. So add another external USB device outside your HTPC if you need this.
If these obstacles do not inconvenience you, this is hands down the best route for using a HTPC with cable. You get the best possible picture quality, on-the-fly Dolby Digital decoding and tuning between channels is very quick.
If you go the CableCard route, you are FORCED to use Windows Media Center, so keep that in mind.
If you do not go this route, I used to use (before what I currently have) the Hauppauge Colossus HDPVR. You will need a cable company provided digital cable box, and you'll only get one tuner, so no recording and watching at the same time etc.
The Colossus is more difficult to set up IMO, since you need to use the provided infrared blaster to tune the channel you want to the digital cable box from your cable company. Also, you can use any compatible software you'd like (Like BeyondTV or Sage, etc.). You are NOT forced to use Windows Media Center (but I recommend you do, it's very nice if you have a remote). Another thing, you'll need to run component cables from your cable box to your Colossus. These cables are bulky and ugly, and if you want Dolby Digital sound, you'll need to run an optical cable to the Colossus as well.
The reason I switched was two things. One, dual tuners. Makes a HUGE difference to me, and could never go back. Two, and the biggest reason (and this may not be as big of a deal for you depending on your cable company's rates), is a HD cable box is $10/mo where a CableCard is $2/mo. The DCR-2650 was $100 so in just over 12 months it will have paid for itself.
Long read, but I know it will help you in making an informed decision!
Edited by TMan459 - 11/7/12 at 4:15pm