I applied these settings to the Elgato HD60 with Chat Link and got it to work fine but it took some fiddling to get audio to work as I was trying to use a custom audio device thinking that I need that selected as well but what I needed was Desktop Audio.
To capture the audio from an Xbox One, I had to increase the Volume to 150% as it is to quiet otherwise. My analoge audio gain in the Elgato Game Capture software settings is 12dB.