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this allows ps3 to display on monitors or anything with vga

2 questions

first. will it work on a laptop
second. if so would it be possible to record the gameplay and how?

it will probably work on a laptop, and theres tons of ways to record it using programs but it will most likely lag the gameplay

how bad would it lag

Just try it out dude.

You have Hyper cam and Camstasia if you do, You can get both a free trial or completely free just watch out for the virus's. Just google it, and download then scan etc.
Hope this helped.

thank you very helpful