I am using Pinnacle Studio version 8.8
I don't know if there is a higher version out because I haven't checked yet. The current version still works just fine for me. I do know there is an expansion pack for this version with additional fade effects between scenes and menu titles. I haven't bothered to purchase it because I can make do with what I have or create my own.
It cost about $100 to get the box and software to convert tapes to the computer. I can also hook up camcorders and other recording devices. I have the box that will also convert back to tape but the last time I was at the store, there was one that only went one way to the computer. I think it was cheaper and who wants to convert back to tape anyway?
Edited process in for further information.

I just wanted to clarify the process. The video capture is extremely sensitive so you want to shut down every nonessential program on your computer. I even disconnect the internet. You can set 3 different levels of quality for video capture. I have mine set to DVD which means that only 1 hour of video captured will fit on the DVD-R unless you force it to scrunch in.
When you force more than 1 hour of video, you will want to render the DVD overnight because it has to drop pixels which takes forever. I did that once and I went to bed after about 4 hours of waiting. I dont' know how long it actually took to make the movie.
You can render the movie and burn directly to disc or have it render to your computer. Then you can go back and burn it do a disc. I have learned to render the movie to the PC and check it out before burning the disc. Sometimes the video capture problems don't show up until the movie is rendered. It's most noticable when the announcers are talking. Their lips don't match the sound.
I watch the movie on my PC before burning to disc so I don't waste them anymore. I am logging the skaters and programs in a database anyway so watching the movie from my PC works fine for me. If you're in a hurry, you can do a quick check on just the announcers talking so you know if there is a problem or not.
Have fun.

It is a huge project. Like I said, I'll still be hooking of the dvd recorder to the computer for my special skating projects but at least I'll never have to buy video casettes again for regular programming that I'll miss. I'll just hit record, watch and delete.
