The other splitters do have that functionality. They allow you to play Blu-ray and PS3 on a TV that complies with HDCP. They don't allow you to break HDCP.

If you want what I have: http://www.amazon.com/gp/product/B0089DVCT8

The options are Great Elect via Fulfillment (which is what I did because I got Amazon Prime shipping), Great Elect, or Amazon themselves. Pennies separate the prices.

If you want a cheaper and smaller alternative that others say works for stripping HDCP (including reviews on Amazon): http://www.amazon.com/gp/product/B004F9LVXC/