Question about Diamond Multimedia ( VC500) Video Capture

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Ok, so I bought the Diamond VC500 multimedia recorder, and what I want to do with it is to record videos off of my playstation. I have all the right hardware i think; three 1 male 2 female y splitters, 3 female to 3 female extender, the actual Diamond VC500 hardware, and the playstation and all of its cables that all corrispond to the same cables (i.e. white to white, red to red, yellow to yellow) and I have hooked up the USB port to my computer and have downloaded all of the softwares that go along with the hardware. But the problem is, that everytime I go on my playstation to try to record something, the video and the sound show up on the TV screen, but not the computer software device that came with the Diamond. What I think the problem might be one of two things; that I have an HD TV screen and the computer i bought about 6 years ago might not be able to process as many pixels as the software needs to function, or the other problem might be that i have not configured the software settings right. If you are familiar to the software then the settings are as follows: Video format: NTSC_M Import Source: Composite Record: (Format) DVD Capture Button: Capture Video. If anyone has any idea what I'm doing wrong, please email me a.s.a.p. Thanks, and if it means anything, the computer I'm using dosn't have an internet connection.

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