Hopefully this will be a simple question to answer. I have an Avermedia Live Gamer HD and I use it to record my Xbox 360. I've used it for a while and have generally been happy with the performance, but I always noticed a slight fps drop every once in a while (every 5-10 seconds). Its pretty slight and most people wouldn't care, and I always thought my it was just an adobe flash issue in my browser, but its been bugging me lately, so I decided to dig into it a little deeper.
Before I did this unscientific test, I made sure to update the firmware and driver for the avermedia card. After that, I merely did a side by side viewing. I changed my first monitor to HDMI, to get a direct feed to the Xbox 360 video. I then turned on just the "preview" function of OBS (encoding disabled) and full screened it on my second monitor. Viewing them side by side, I could see the xbox maintained a smooth, constant frame rate, whereas the OBS preview had visible, slight frame rate drops every once in a while. These drops were purely visual however; OBS itself said that it was 60fps in the bottom right corner at all times. Even my recordings say 60fps when played back in media player classic. However, I'm assuming this fps is the rate the software is recording and has nothing to do with what the source is displaying.
Comparatively, I did another stream of a PC game using game capture (no capture card was involved), and the resulting stream had constant smoothness, and I could not see any dips like I did with footage recorded from the capture card.
Like I said, the performance is for the most part acceptable and most people would not even notice a problem, but its really bugging me how the HDMI output is completely smooth at all times, yet recordings and even preview mode in OBS show visual dips. I don't know if its a problem with the card, OBS, or some setting I have. Anyone have any ideas? I'll include a log and a screenshot of my Live Gamer settings in OBS. I can also upload a small recording and point out a spot where I see it. This could all be in my head as everything says its 60, but I wanted to ask to make sure.
Before I did this unscientific test, I made sure to update the firmware and driver for the avermedia card. After that, I merely did a side by side viewing. I changed my first monitor to HDMI, to get a direct feed to the Xbox 360 video. I then turned on just the "preview" function of OBS (encoding disabled) and full screened it on my second monitor. Viewing them side by side, I could see the xbox maintained a smooth, constant frame rate, whereas the OBS preview had visible, slight frame rate drops every once in a while. These drops were purely visual however; OBS itself said that it was 60fps in the bottom right corner at all times. Even my recordings say 60fps when played back in media player classic. However, I'm assuming this fps is the rate the software is recording and has nothing to do with what the source is displaying.
Comparatively, I did another stream of a PC game using game capture (no capture card was involved), and the resulting stream had constant smoothness, and I could not see any dips like I did with footage recorded from the capture card.
Like I said, the performance is for the most part acceptable and most people would not even notice a problem, but its really bugging me how the HDMI output is completely smooth at all times, yet recordings and even preview mode in OBS show visual dips. I don't know if its a problem with the card, OBS, or some setting I have. Anyone have any ideas? I'll include a log and a screenshot of my Live Gamer settings in OBS. I can also upload a small recording and point out a spot where I see it. This could all be in my head as everything says its 60, but I wanted to ask to make sure.

Code:
11:07:30: Open Broadcaster Software v0.637b - 64bit ( ^ω^)
11:07:30: -------------------------------
11:07:30: CPU Name: Intel(R) Core(TM) i7-3770K CPU @ 3.50GHz
11:07:30: CPU Speed: 3500MHz
11:07:30: Physical Memory: 7876MB Total, 5943MB Free
11:07:30: stepping id: 9, model 58, family 6, type 0, extmodel 1, extfamily 0, HTT 1, logical cores 8, total cores 4
11:07:30: monitor 1: pos={0, 0}, size={1920, 1080}
11:07:30: monitor 2: pos={-1920, 0}, size={1920, 1080}
11:07:30: Windows Version: 6.1 Build 7601 S
11:07:30: Aero is Disabled
11:07:30: -------------------------------
11:07:30: OBS Modules:
11:07:30: Base Address Module
11:07:30: 000000003FC90000 OBS.exe
11:07:30: 00000000F5AB0000 OBSApi.dll
11:07:30: 00000000F5A60000 DShowPlugin.dll
11:07:30: 00000000F5A20000 GraphicsCapture.dll
11:07:30: 00000000F59F0000 NoiseGate.dll
11:07:30: 00000000F59C0000 PSVPlugin.dll
11:07:30: ------------------------------------------
11:07:30: Adapter 1
11:07:30: Video Adapter: NVIDIA GeForce GTX 560 Ti
11:07:30: Video Adapter Dedicated Video Memory: 1024917504
11:07:30: Video Adapter Shared System Memory: 3221106688
11:07:30: Video Adapter Output 1: pos={0, 0}, size={1920, 1080}, attached=true
11:07:30: Video Adapter Output 2: pos={-1920, 0}, size={1920, 1080}, attached=true
11:07:30: =====Stream Start: 2014-10-07, 11:07:30===============================================
11:07:30: Multithreaded optimizations: On
11:07:30: Base resolution: 1280x720
11:07:30: Output resolution: 1280x720
11:07:30: ------------------------------------------
11:07:30: Loading up D3D10 on NVIDIA GeForce GTX 560 Ti (Adapter 1)...
11:07:30: ------------------------------------------
11:07:30: Audio Format: 48000 Hz
11:07:30: ------------------------------------------
11:07:30: Audio Channels: 2 Ch
11:07:30: Playback device Default
11:07:30: ------------------------------------------
11:07:30: Using desktop audio input: Speakers (2- ASUS Xonar Essence STX Audio Device)
11:07:30: Global Audio time adjust: 0
11:07:30: ------------------------------------------
11:07:30: Using auxilary audio input: Microphone (2- ASUS Xonar Essence STX Audio Device)
11:07:30: Mic time offset: 0
11:07:30: ------------------------------------------
11:07:30: Audio Encoding: AAC
11:07:30: bitrate: 160
11:07:30: ------------------------------------------
11:07:30: device: AVerMedia HD Capture C985 Bus 7,
11:07:30: device id \\?\pci#ven_1af2&dev_a001&subsys_a0011af2&rev_00#4&299066b9&0&00e6#{65e8773d-8f56-11d0-a3b9-00a0c9223196}\{957bd672-7934-4b55-b81a-3e22b14c679a},
11:07:30: chosen type: YV12, usingFourCC: true, res: 1280x720 - 1280x720, frameIntervals: 166666-666666
11:07:30: use buffering: true - 0, fourCC: 'YV12'
11:07:30:
11:07:30: device audio info - bits per sample: 16, channels: 2, samples per sec: 48000, block size: 4
11:07:30: Using directshow input
11:07:30: ------------------------------------------
11:07:30: device: Logitech QuickCam Fusion,
11:07:30: device id \\?\usb#vid_046d&pid_08ca&mi_00#7&f43b914&0&0000#{65e8773d-8f56-11d0-a3b9-00a0c9223196}\{bbefb6c7-2fc4-4139-bb8b-a58bba724083},
11:07:30: chosen type: I420, usingFourCC: false, res: 640x480 - 640x480, frameIntervals: 333333-2000000
11:07:30: use buffering: false - 0, fourCC: 'I420'
11:07:30: audio device: Disable,
11:07:30: audio device id Disabled,
11:07:30: audio time offset 0,
11:07:30:
11:07:30: Using directshow input
11:07:30: Scene buffering time set to 400
11:07:30: ------------------------------------------
11:07:30: Video Encoding: x264
11:07:30: fps: 60
11:07:30: width: 1280, height: 720
11:07:30: preset: medium
11:07:30: profile: high
11:07:30: keyint: 120
11:07:30: CBR: yes
11:07:30: CFR: yes
11:07:30: max bitrate: 3500
11:07:30: buffer size: 3500
11:07:30: ------------------------------------------
11:07:31: Audio timestamp for device 'AVerMedia HD Capture C985 Bus 7' was behind target timestamp by 1427963
11:11:47: Total frames encoded: 15352, total frames duplicated: 60 (0.39%)
11:11:47: Total frames rendered: 15383, number of late frames: 2 (0.01%) (it's okay for some frames to be late)
11:11:47:
11:11:47: Profiler time results:
11:11:47:
11:11:47: ==============================================================
11:11:47: video thread frame - [100%] [avg time: 0.871 ms] [children: 56.1%] [unaccounted: 43.9%]
11:11:47: | scene->Preprocess - [48.3%] [avg time: 0.421 ms]
11:11:47: | GPU download and conversion - [7.81%] [avg time: 0.068 ms] [children: 4.94%] [unaccounted: 2.87%]
11:11:47: | | flush - [3.9%] [avg time: 0.034 ms]
11:11:47: | | CopyResource - [0.918%] [avg time: 0.008 ms]
11:11:47: | | conversion to 4:2:0 - [0.115%] [avg time: 0.001 ms]
11:11:47: Convert444Threads - [100%] [avg time: 0.391 ms] [children: 99.5%] [unaccounted: 0.512%]
11:11:47: | Convert444toNV12 - [99.5%] [avg time: 0.389 ms]
11:11:47: encoder thread frame - [100%] [avg time: 0.708 ms] [children: 7.06%] [unaccounted: 92.9%]
11:11:47: | sending stuff out - [7.06%] [avg time: 0.05 ms]
11:11:47: ==============================================================
11:11:47:
11:11:47:
11:11:47: Profiler CPU results:
11:11:47:
11:11:47: ==============================================================
11:11:47: video thread frame - [cpu time: avg 0.161 ms, total 2480.42 ms] [avg calls per frame: 1]
11:11:47: | scene->Preprocess - [cpu time: avg 0.006 ms, total 93.601 ms] [avg calls per frame: 1]
11:11:47: | GPU download and conversion - [cpu time: avg 0.051 ms, total 795.604 ms] [avg calls per frame: 1]
11:11:47: | | flush - [cpu time: avg 0.034 ms, total 530.404 ms] [avg calls per frame: 1]
11:11:47: | | CopyResource - [cpu time: avg 0.008 ms, total 124.8 ms] [avg calls per frame: 1]
11:11:47: | | conversion to 4:2:0 - [cpu time: avg 0.001 ms, total 15.6 ms] [avg calls per frame: 1]
11:11:47: Convert444Threads - [cpu time: avg 0.768 ms, total 23587.4 ms] [avg calls per frame: 2]
11:11:47: | Convert444toNV12 - [cpu time: avg 0.766 ms, total 23525 ms] [avg calls per frame: 2]
11:11:47: encoder thread frame - [cpu time: avg 0.005 ms, total 78 ms] [avg calls per frame: 1]
11:11:47: | sending stuff out - [cpu time: avg 0.002 ms, total 31.2 ms] [avg calls per frame: 1]
11:11:47: ==============================================================
11:11:47:
11:11:47: =====Stream End: 2014-10-07, 11:11:47=================================================
11:12:06: Terminating 0x4e0