Yes ... I do it all the time ... I used the Panasonic EH50 with 100GB hard drive. I record first to the HD and edit out all the commercials and then burn to a DVD. But the EH50 that I have on my shelf is buried under two other units and was getting picky with blank DVD-Rs I used. I read an article and found out the rubber spindle ... that holds the DVD disk in place can get dirty and when cleaned properly will allow a DVD Recorder to be like new ... more or less.
I tried this on a Panasonic E85H ... I got it on Ebay and the seller said it played Commercial store bought DVD Movies but would not recognize a blank DVD ... so I cleaned the rubber spindle with alcohol and Q-Tips and it now recognizes Blank DVDs ... again.
Well ... my EH50 ... also had a problem with ejecting a disk ... push the button and nothing happened ... sounds were heard but ... the tray didn't come out. Sometimes it would though and sometimes after pushing the button enuff times it would pop out and jump back in really quick.
Well ... after cleaning the spindle ... I put it back together and put it back on the shelf. Now the tray ... has really gotten picky ... wont come out at all anymore.
I can get this problem fixed ... a few months ago ... I saw on Ebay a guy offers services for repairing this problem. Or I could ... I believe ... take another EH50 that I have ... that has bad video coming out ... and just swap the DVD drive unit ... I do believe that is possible.
But for your question ... yes ... just send the ... S-VHS and the audio outputs to your DVD Recorder and record your show. If you use a Panasonic ... you can record to a DVD-RAM disk and make sure your PC has a DVD Reader or Burner that can read DVD-RAM disks ... I know a Panasonic unit can ... and Pioneer DVD Burners can.
And then use your favorite programs to edit out the commercials ... Tmpenc has several to choose from.
You can also use DVD-RW disks too ... I have not seen a DVD Burner that can't read DVD-RW disks and plenty of programs to process a movie recorded on a DVD Disk.
You can also go to >> www.videohelp.com
and ask them about how to convert and edit out the commercials on a DVD disk. Since you are the one who originally made it ... it wont be encrypted and you wont need a program like AnyDVD to process it.
At ... www.videohelp.com
... I go by ... lacywest