Neuros (they have a nice website design-wise) recently launched the second version of their MPEG recorder, and the target right now is the Sony PSP.

The MPEG-4 Recorder is like an easy-to-use, free-standing VCR that records onto digital memory cards instead of VHS tapes so that the video is playable directly on the PSP� or other handheld devices.

There are plenty of features for the Neuros Recorder 2, I'll tell you the best and you can read the rest at their site.

Features:

• Record effortlessly from any video source (TV Cable box, Satellite Receiver Box, PVRs or DVRs Like TiVoTM, DVD players, VCR, Camcorders)
• MPEG-4 video format allows you to view content directly on your PSP� or any other device that accepts standard Memory Stick or Compact Flash (CF) memory cards (not included)
• Can play back from Recorder 2 through TV's and home theatres. Pocket-sized device is small enough to use as a portable VCR

As for technical specs, here's whats Cracking... it records like this:

• 30fps@320x240 resolution (QVGA setting) recommended for handhelds
• 30fps@368x208 resolution (16:9, WQVGA setting)wide screen format for PSP
• 30fps@640x480 resolution (VGA setting)Best quality for TV playback

And it can play all:

• MPEG-4, DivX 3.11@ CIF Resolution, DivX 4.x,5.x,30fps up to D1 resolution, Quicktime 6, ASF, AVI, MP4

Available at Neuro's site for $150. Buy here

Read a review of the previous Neuro Recorder version at pocketnow.com

Via Gizmodo