I just took the plunge and bought a DVD recorder after using my VCR/camcorder for years to record and archive skating footage on my computer (in various formats). This produced the best possible quality and was easy to share with people and watch on my computer whenever I wanted to (as well as allowed me to make screencaps). I think that starting with Sunday's broadcast of the GPF, I will no longer use this method but will just record straight to DVD. I have less time nowadays, and I don't feel as invested in skating to take the time I did in the past to make computer recordings. I may still use the old method for certain shows, but until HDTV becomes the standard (can't wait!!!) I think this is how I will do things. However, this wasn't the main reason I bought the DVD (it's just miles better than VHS, that's all), but now that I have it, it makes sense just to do it this way- and I'll still be able to watch it on my computer.
I will explore to see if I can pick the files off the DVD to edit on my computer, though. Once I do that I will post how that goes.