Sandisk V-mate with xbox360

[ssalim]

Hi,

I purchased a SanDisk V-mate that records whatever coming to its composite (red white yellow). However when recording, it does not output to TV.
Say I want to be able to see and record at the same time using my Xbox360, how would do do that? My TV has HDMI in, component in and composite in. My XBOX 360 has component out, composite out and HDMI out. The SanDisk V-mate only has composite in and composite out.

Can I do this?
Use HDMI out from xbox 360 to HDMI in to my TV.
Use composite out from xbox 360 to composite in to the SanDisk V-mate.

If above doesn't work, I'm thinking I would need to split something somewhere.

Thoughts, comments, advises?

Thanks!

Edit: I just read that xbox 360 can't output both HDMI and component/composite at the same time. Sigh.
What are my options? Split it I guess. Can I split the HDMI? One goes to TV the other goes to some kind of adapter from HDMI in to composite out?

Edit: Wow, I can't find the down scaler for cheap, it's over $200. Insane. I guess the last option would be to use xbox 360 composite out and split it into two. One goes to Tv and another goes to sandisk v-mate. I'll have to deal with the low res.

Edit: I guess I'll try to use the xbox360 composite and component out cable. Component goes to TV, composite goes to sandish v-mate. Will this work?