Just a little update here as I did manage to get my Intensity Pro working last week after some fiddling.
Basically, the issue was that the Black Magic Intensity Pro conrol panel application only seemes to allow you to select SD, 720HD or 1080HD signals as input. When I plugged my component cables into the Intensity Pro the Xbox 360 was apparently defaulting to 480p, and all I was getting on my screen was a nice black box (this Xbox 360 usually is hooked up with a VGA connector set to 720p).
After plugging the xbox into our HDTV (with component cables) and then setting the correct mode (720p) I took it back over to the PC, hooked it up and got a picture!
I did some test recordings at full 720p / 30fps and the recording was pretty smooth on the new Western Digital Black drive I recently purchased.
I've not tried HDMI yet but I think that by following the same procedure I did with the component cables I should be able to get it working.
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