OK, You have got two options, Digital or Analog. Everything is going digital, so I'd recommend going digital if at all possible.
For DV..
To start out by picking up a cheap firewire (ieee1394) card with Texas Instruments Chipset on it.. Pinnacle, Dazzle, Adaptec, etc.. all make such cards. If you shop around, you can get such a card for $50 or less.
Then get a media converter. This will allow you to take Analog Video (VHS, Hi8 etc.) and convert it to DV format for editing on your computer, then once edited, you can output it back to Analog. Dazzle makes a product called the DV-Bridge, but it has lots of issues, I'd avoid it for the time being. Sony makes a media converter called the DVMCDA-2. This converter will run you about $300, but is well worth the money.
Total investment.. about $350
If your looking to go high end, get the Fast DV.Now AV, this is a complete DV/Analog Editing system, that comes with Adobe Premiere 6.0 and has a pluggin for realtime processing and effects. Price: about $550, (An exceptional value for what you get)
Be warned though, if you decide to go digital, be prepared to invest in some extra storage as an Hour of DV will take up about 20gb.
For Analog...
There are 2 predominant formats in the Analog capture arena, Mpeg 1/2 & Mjpeg. Mpeg is nice because the files are small, but are
extremely dificult to edit because they are so compressed. For each edit that you do, you will spend 10 times as long waiting for the video to rerender. Mjpeg is nice because it is lightly compressed, easy to edit, and has a high quality, but like DV, the files are huge.
For MJPEG,
Pinnacle DC10
Aadvantages: Cheap, Easy to use
Disadvantages: Limited editing capabilities, No onboard Audio (You have to use your soundcard input), Only Windows 9x Drivers
Price: $100
Pinnacle DC30
Advantages: Easy to use, lots of input/output options (Breakout box)
Disadvantages: Kind of pricey
Price: $500
Matrox Marvel G400
Advantages: Complete Solution (including video card), Lots of Inputs/Outputs (Breakout box), Matrox quality
Disadvantages: Must use the supplied G400 Video Card
Price: $250
For Mpeg 1/2,
Dazzle DVC
Advantages: Easy to use, lots of input/output options (Breakout box), Cheap
Disadvantages: Mpeg 1 format only
Price: $150
Note: This product comes in a variety of flavors.. USB, Parrallel Port, PCI
Dazzle DVC 2
Advantages: Easy to use, lots of input/output options (Breakout box), Cheap, realtime MPEG 2 Capture at DVD Resolutions
Disadvantages: Mpeg 2 format makes editing really tough
Price: $220
Thats enough for now.. must go before I get Fired
-CH2