I'm using this video4linux2 kernel driver. http://code.google.com/p/easycap-somagic-linux/

################################VLC Command
$ vlc v4l2:///dev/video0 :input-slave="alsa://plughw:1,0"

################################VLC Codec info
Stream 0
  Type: Video
  Codec: Packed YUV 4:2:2, U:Y:V:Y (UYVY)
  Resolution: 720x487
  Display resolution: 720x487
  Frame rate: 4293.967360
Stream 1
  Type: Audio
  Codec: PCM S16 LE (s16l)
  Channels: Stereo
  Sample rate: 48000 Hz
  Bits per sample: 16

################################V4L2 info
$ v4l2-ctl --all
Driver Info (not using libv4l2):
	Driver name   : SMI Grabber DEV
	Card type     : EasyCAP DC60
	Bus info      : usb-0000:00:02.1-2
	Driver version: 3.6.3
	Capabilities  : 0x04000001
		Video Capture
		Streaming
Format Video Capture:
	Width/Height  : 720/487
	Pixel Format  : 'UYVY'
	Field         : Interlaced
	Bytes per Line: 1440
	Size Image    : 701280
	Colorspace    : Broadcast NTSC/PAL (SMPTE170M/ITU601)
Video input : 0 (CVBS: ok)
Video Standard = 0x0000b000
	NTSC-M/M-JP/M-KR
Streaming Parameters Video Capture:
	Frames per second: 29.970 (30000/1001)
	Read buffers     : 2

################################FFmpeg command
$ ffmpeg -v verbose -f video4linux2 -i /dev/video0 -c:v libx264 -preset ultrafast cast.mkv
ffmpeg version 1.0 Copyright (c) 2000-2012 the FFmpeg developers
  built on Oct 23 2012 21:43:58 with gcc 4.7.2 (GCC)
  configuration: --prefix=/usr --enable-libmp3lame --enable-libvorbis --enable-libxvid --enable-libx264 --enable-libvpx --enable-libtheora --enable-libgsm --enable-libspeex --enable-postproc --enable-shared --enable-x11grab --enable-libopencore_amrnb --enable-libopencore_amrwb --enable-libschroedinger --enable-libopenjpeg --enable-librtmp --enable-libpulse --enable-libvo-aacenc --enable-libvo-amrwbenc --enable-libfdk-aac --enable-libaacplus --enable-libv4l2 --enable-gpl --enable-nonfree --enable-version3 --enable-runtime-cpudetect --disable-debug --disable-static
  libavutil      51. 73.101 / 51. 73.101
  libavcodec     54. 59.100 / 54. 59.100
  libavformat    54. 29.104 / 54. 29.104
  libavdevice    54.  2.101 / 54.  2.101
  libavfilter     3. 17.100 /  3. 17.100
  libswscale      2.  1.101 /  2.  1.101
  libswresample   0. 15.100 /  0. 15.100
  libpostproc    52.  0.100 / 52.  0.100
[video4linux2,v4l2 @ 0x25ed260] [3]Capabilities: 5000001
[video4linux2,v4l2 @ 0x25ed260] Querying the device for the current frame size
[video4linux2,v4l2 @ 0x25ed260] Setting frame size to 720x487
[video4linux2,v4l2 @ 0x25ed260] The V4L2 driver changed the video from 720x487 to 720x486
[video4linux2,v4l2 @ 0x25ed260] The v4l2 frame is 633600 bytes, but 524880 bytes are expected
[video4linux2,v4l2 @ 0x25ed260] Estimating duration from bitrate, this may be inaccurate
Input #0, video4linux2,v4l2, from '/dev/video0':
  Duration: N/A, bitrate: 125845 kb/s
    Stream #0:0: Video: rawvideo (I420 / 0x30323449), yuv420p, 720x486, 125845 kb/s, 29.97 tbr, 1000k tbn, 29.97 tbc
File 'cast.mkv' already exists. Overwrite ? [y/N] y
w:720 h:486 pixfmt:yuv420p tb:1/1000000 fr:30000/1001 sar:0/1 sws_param:flags=2
[libx264 @ 0x25ee900] using cpu capabilities: MMX2 SSE2Slow SlowCTZ
[libx264 @ 0x25ee900] profile Constrained Baseline, level 3.1
[libx264 @ 0x25ee900] 264 - core 124 - H.264/MPEG-4 AVC codec - Copyleft 2003-2012 - http://www.videolan.org/x264.html - options: cabac=0 ref=1 deblock=0:0:0 analyse=0:0 me=dia subme=0 psy=1 psy_rd=1.00:0.00 mixed_ref=0 me_range=16 chroma_me=1 trellis=0 8x8dct=0 cqm=0 deadzone=21,11 fast_pskip=1 chroma_qp_offset=0 threads=3 sliced_threads=0 nr=0 decimate=1 interlaced=0 bluray_compat=0 constrained_intra=0 bframes=0 weightp=0 keyint=250 keyint_min=25 scenecut=0 intra_refresh=0 rc=crf mbtree=0 crf=23.0 qcomp=0.60 qpmin=0 qpmax=69 qpstep=4 ip_ratio=1.40 aq=0
Output #0, matroska, to 'cast.mkv':
  Metadata:
    encoder         : Lavf54.29.104
    Stream #0:0: Video: h264, yuv420p, 720x486, q=-1--1, 1k tbn, 29.97 tbc
Stream mapping:
  Stream #0:0 -> #0:0 (rawvideo -> libx264)
Press [q] to stop, [?] for help
[video4linux2,v4l2 @ 0x25ed260] The v4l2 frame is 701280 bytes, but 524880 bytes are expected
/dev/video0: Invalid data found when processing input
No more output streams to write to, finishing.
frame=    0 fps=0.0 q=0.0 Lsize=       1kB time=00:00:00.00 bitrate=   0.0kbits/s
video:0kB audio:0kB subtitle:0 global headers:0kB muxing overhead 1529.411765%