I just installed a couple of extra hard drives to test the IPI recorder using software RAID. I had to hunt for a power supply splitter for SATA drives. I explained to the guy who had the parts the purpose. He quickly did some calculations for me and showed me the impact of going from 16 bit to 24 bit color depth. He showed me again the impact of going from 24 bit to 32 bit.

I believe I saw that the PS3 eyes are capable of 32 bit color depth. Is the full color depth needed for tracking? If not, it might be worth allowing either automatic color depth adjustment (if buffer overflow, then switch down) or manual.
BUT this is not a feature I would want if it has a negative impact on tracking.

PS3 Eye cameras only can record at 24 bits per pixel color depth.

Since PS3 Eye camera work in raw Bayer mode, your calculations of required bandwidth may be incorrect. For accurate information on required bandwidth, please see status indicators at the bottom of iPi Recorder. iPi Recorder displays data rate from cameras to host computer as well as data rate from host computer to hard drive during recording.