You still can't record HD with this. All this is .. is instead of a DVI output it is replaced with a HDMI output. Its no different than getting a PC with DVI output and getting a DVI to HDMI converter. Mind you one big bonus is that you do not need to feed the digital out or stereo out of the PC to your display. The HDMI will carry both signals.
After market should be no problem with this as this mostlikely would be disabled once you pop in a new card and it detects a new card on your PCI express slot or AGP slot. I bet you would find a disable setting in the BIOS for this too.