Reprinted from an Blackmagic Design press release:
Blackmagic Design today announced DeckLink Studio, a new model capture card designed as a replacement for standard definition cards, with increased analog connectivity for older analog equipment as well as SDI/HD-SDI and HDMI connections for the latest cutting edge digital equipment. DeckLink Studio 2 replaces current model DeckLink Studio and adds 10 bit HDMI capture and playback for the same low price of US$695 or 545 from Blackmagic Design resellers worldwide.
DeckLink Studio features independent connections for SDI, HDMI, analog component, S-Video and composite video, so all types of external video equipment can remain connected without re-cabling. DeckLink Studio also includes SDI and HDMI connections that switch between SD and HD, as well as an SD only output that always outputs via a built in hardware down converter even when running in HD. The SD down converted output is great when you need to monitor your work in both SD and HD at the same time.