Just means it's a mono tv.
Composite is Yellow: video, White: R/L Audio and Red: L/R Audio
The two competative devices are the Black Magic Intensity Pro, and the HD PVR from Hauppauge.
Both of which are $200.
Also, if you make a video with your cellphone/prop your camera up to the screen, I'll find you and murder you.
Because even if it's an HD camera and you prop it up just right, it looks like balls, and SD captured video is 10 times better.
Honestly, if you want to play in HD, and record, you have to get a $200 card.