Rui CarmoThe Neuros OSD is an "Open Media Center" that is capable of recording composite video as an MP4 stream (as far as I know, it's not H.264 AVC, only the simple profile).
Besides having an Ethernet port, the device also uses a reasonably standard power supply (actually, the same as the PSP).
Sadly (and despite all the hype regarding open firmware) it does not have a tuner, which makes it sort of pointless as a VCR replacement.