Hello,
I have a ATI Radeon HD 4650 graphics card. It has an S-Video input in the back. Am I able to hook it up in away to record my ps3 gameplay onto my computer while using my monitor to play?
That's not an input jack... it's hdtv out (component). If you want to record ps3 play, better either use a camera or output your ps3 signal to a dvd play that can record.
The main problem would be time lag, not a problem for recording but if you were trying to control anything in the game whilst viewing on the PC's monitor you would have to deal with a possible millisecond delay or two.