Much like a Slingbox for your DVR, the concept behind the soon-to-be-released Spawn 720-HD is a high-definition internet streaming box that allows you to play any of your console games from your PC while away from home. Take a moment to pinch yourself to prove you are not dreaming before we continue.

In a nutshell, the Spawn 720-HD connects to your TV and syncs up to other systems and controllers via a USB connection. Through your computer, you can log into the Spawn Labs website, where immediate access to your own or even one of your friends’ systems is a few mouse clicks away.

This seemingly too-good-to-be-true gadget is slated to be out sometime in November for just a hair under $200.

There has been a lot of talk and buzz recently about gaming cloud services that allow you to stream a multitude of shared games from various servers. It is probably only natural that a personal streaming device would make its way to the marketplace, but the shocking thing is how far under the public radar the Spawn 720-HD has flown.

Using an Ethernet connection, you can play games such as Halo 3: ODST from the office or even the other room should you be too lazy to get out of bed for some rounds of Fire Fight.

The first obvious question with any type of remote streaming gaming service is what kind of lag does the Spawn 720-HD cause. At around 100 milliseconds for audio and 5 milliseconds for controller, the lag is certainly reasonable enough, although we wouldn’t suggest using this device for cross-continent gaming. Under ideal situations, games will run at 720p with 30 fps, which will not match your HD living room TV, but will still give allow you a quality gaming fix while on the road.

They may not know it yet, but girlfriends and wives everywhere have reason to celebrate thanks to the Spawn 720-HD. No longer is it necessary to jockey over the TV, since you can let her watch her favorite shows while you play remotely on a laptop thanks to the Spawn.

For such a complicated technology, putting the Spawn 720-HD to use is fairly easy. The Spawn Labs product ships right out of the box with support for most current gamepads, and even though there is no current compatibility with Mac computers, a fix is reportedly on the way. In theory, everything from the 720p streaming video, to the instant YouTube capture ability has this Spawn device sounding fantastic, but the real verdict won’t come until it is in the hands of the masses. The smart bet would be on letting the early adopters put the Spawn 720-HD through its paces before thinking about adding one to your gaming console set up.