The way I record, and this can be used on a lot of games:

PS3 component cables/composite cables audio cords > female2female composite adapter > composite2 3.5mm adapter > laptop mic port recording with Audacity.

The reason I use composite/component cables to is have the video still being played on the tv so I can see what sound I'm playing to avoid playing the same sound twice.  Its fairly simple to set up once you get the parts and requires a little tweaking to get the playing/recording volumes correct, but once you do its a breeze.  Its a good method to use as long as the sound tests don't apply any filters to the sounds(in Mario Party there's an echo effect they add in during the sound test).

Additionally, when recording, the sound should barely reach the edges and never go above(or below, at the bottom) them.  That's where you get that buzz from.

When I record them, I turn the in-game volume down to about 2-3(Blazblue I would record on 15 out of 100).  That's usually low enough to record in Audacity without a ton of extra sounds flowing into the mic.