Neuros MPEG4 Recorder 2

Here's the most recent version of Neuros' MPEG4 recorder called the Recorder 2, marketed mainly for its support of direct encoding on the Sony PSP. But of course, there's more to this product. It actually records from any video source directly onto a Memory Stick, which you can then play in any compatible PMP. It also supports time-controlled recording and has a 368x208 pixel resolution. Goes for about $150.

Neuros MP4 Recorder 2 for Sony PSP [i4u]