AKyemeni, you are using the same thing as me.
And I've watched your vids.
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Let's cover the technical stuff first then we will cover the YouTuber perspective.
Here is my equipment:
VISUAL/CAPTURE: El Gato Capture HD Card (Should be around $150) It's very simple and straight forward to use. It let's you record up to 1080p but the ps3 doesn't allow 1080p due to the HDMI limit restrictions from PS. It will also work for the PS4 (with a later patch). The best feature is the Replay Record, so you can have the device recording the whole time, then you can flashback record if you had a "holy **bleep**" moment. As well, it allows to you to broadcast to Twitch.tv very easily too and makes a lot of complicated settings simple to understand. Even though, I can't do all the fancy broadcast stuff that you see on some Twitch channels, it still gets the job done and captures at a high rate. All of the streaming/uploading depends on your Internet provider's upload speed. What I really love about the card is that I can record Live Commentary* directly to what I'm capturing and I can use my prefer Mic during Twitch broadcasting.
AUDIO: Snowball Mic by Blue. http://www.amazon.com/Blue-Microphones-Snowball-Mi
Great Mic, usually around $50-$70 dollars. Perfect for recording broadcasting gameplay and podcast stuff. I also have a Pop filter to keep the audio as clean as I can get it before sending it to "post". Note, the card does not work well with PSN Wireless Headphones, it's stated in their FAQ. So when I'm recording an episode for my channel, I cannot talk to teammates and record my audio at the same time. There is a work around but it involves extra cables and a different headset than the headphones I use to talk to other players.
EDITING/POST: I record my visual through El Gato Capture Card and audio through the Snowball Mic using Garage Band (Mac Software). And then I marry all that together in Final Cut Pro X. These is what I have available to me but, any editing software will do.
The only reason I do not like using the Live Commentary feature is that it makes it a **bleep** to fix line flubs or audio adjusts because you are battling the game's audio and your commentary. The features makes it one audio track which isn't pleasant to deal with.*
Now, your channel:
First, find your voice, your angle, like are you going to be informative? Comedic? Goofy? or Straight forward. Remember, you are unique person already so there is no need to worry about being different because you already are.
2nd, be excited about what you do. It will rub off of you during your commentary. Don't try to do something you don't like. If you are doing this for the right reasons then it will happen for you. It helps having an improv background because it helps you think off your toes. Keep you videos simple at first, because it's easy to produce content as a one man operation vs a whole crew.
3rd, where to start? Just do it. Keep at it. At first you may suck but overtime you start getting better. You'll learn how to do commentary faster and how to produce content easier. Just look at my first vids, I'm a lot better than I was before. Just get use to the trolls and thank any and everyone who watch your vids
The elgato does work for ps4 as the elgato game capture works through an HDMI cable. The ps4 is protected via HDCP encryption but all youtubers I know were using hdcp strippers to be able to record.
That won't always be nessecary though as sony said an update will come to remove the HDCP from gameplay so the elgato should work just perfectly by itself once that comes.