be careful in which conversion device you use... some have m2v compressing codecs built in, and you cannot alter the bitrate they adopt. it's best to keep things pure and decide for yourself which codec and bitrate to use. for that reason i prefer the hollywood capture device by dazzle. it's a discontinued product so you can ebay it for 100 or less. for 100 i got a hi-8 video camera and the hollywood, so if you look you can find a deal. basically the hollywood allows rca or s-video input/output. you'll get 100X better picture using s-video, so this is a plus. it then feeds the video into your cpu via firewire or usb. usb is too slow, so you'll lose frames from my experience. after you have the raw video file (a quicktime mov for me), then you can edit and compress. having a big raw video file is important because if it has already been compressed once, adding editing (usually done in dv) and then recompressing is not always so good. likewise, i use a two pass viariable bitrate, so you end up with a better final product by going from tv-->hollywood-->cpu raw dv-->cpu edit-->cpu compress. complex, but once you learn it (i taught myself) then you can crank out some pretty amazing dvd's.