If the frames never arrive clean, the overlay does not matter.
Who this is really for
Your main games live on a console and your production brain lives on a PC. HD60-class capture is for that split. You want to play with pass-through while OBS sees a clean signal.
If you only stream PC titles, buy a better GPU encode setup first—then reconsider capture cards.
What it does better
It formalizes the console→PC bridge. External units are swappable, rackable on a desk shelf, and easier to reason about than mystery internal slots on small form factor PCs.
Elgato's software gravity helps when you are already in that ecosystem for decks and keys.
Living with it
Use rated HDMI cables. Plug into USB ports that can actually feed the card. Match console output modes to what your stream pipeline can handle—4K vanity settings help no one if the encode melts.
Label both ends of every cable. Future troubleshooting becomes human.
Trade-offs we checked
Against internal PCIe capture, external is more portable and PC-case agnostic. Against free software capture on PC games, a card is unnecessary complexity. Buy HD60 X when consoles are the content.