Currently I have MGI Videowave 5 and Ulead VideoStudio(They gave me free full versions). AFAIK, you need to dl the video b4 you can do anything with it with these programs. While I have a decent amount of storage, I would prefer to be able to compress it first as it was taking me about 13GB per DV tape and I have several tapes I need to edit and archive. So far, only Windows Movie maker included in XP will compress on the fly, but it only encodes in .wmv format, though the compression is rather decent. Any suggestions for software packages or is this feature present in the software I already have?