Windows 7 pipe "projector out" video stream to file through a "virtual screen"


I know this is theoretically possible using hardware :
get a vga to RCA converter box and send this output to an RCA -> usb converter .
However, using this method only gets NTSC quality video. Is there a way to get an HD video stream being sent out and then brought back in?

Also, is there a way to do this using only software?
I was hoping there would be some way to tell windows 7 there is a video screen connected when there's no physical one by creating a "Virtual screen" and outputting whatever goes into this virtual screen to a compressor program/ file .

Is there a way to make a virtual screen?

any help on this would be appreciated.

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