Connect your console (PS3, Xbox 360 or Wii U ... ah yes, even your future PS4 or XBOX ONE!) =)
Play while recording. Once your game finished, you have the choice to throw it all via remote control or do a little editing.
Finally your box Ethernet connected, you can simply send your YouTube channel your gameplay. All this without being on your PC !!!
Oh, I forgot ... You can of course shoot commented gameplay. YES! This case HD2 has a jack, therefore, speak while playing, it's not easy but even then I myself happen lol! You have a USB microphone? No panic, adapters exist to fit a USB jack;)