"We have employee monitoring software in use and need to track the usage of the console. So, it seems best to use a capture card along with some type of viewer utility. This would allow us to have a record of when and how long the console was used, in case anyone else in management ever has a problem."
Sure, I don't have a game console at work. But I don't have anyone breathing down my neck if I play some flash games or watch youtube videos or whatever during downtime. I'd much rather work someplace where I'm trusted to get my work done on my own (which I do) without excessive monitoring than someplace where they keep tabs on what their employees are doing "just in case". Free game console or not.