I have the pinacle Dazzle Digital Video Creator 150 Video Capture box. It's been a love/hate relationship. The pinacle software that comes with it is very buggy (but I never upgraded, although I tried once and got a refund when it wouldn't work).
The device itself, is rather nice. Once I determined what causes it to crash, I have got pretty good results. Amazon has one used refurb'd for about $38, while new it costs $125 or more.
I needed a usb2.0 since I get all sorts of audio noise if I try to connect directly to my computer. Probably all sorts of ground loops etc. But the dazzle box eliminates those problems, since it digitizes the audio and video into the one usb cable, which I can run over 25 feet to my computer. The video is captured from the s-vid out of the UTV, but I can see a slight degradation when I play it back on my tv (using my laptop's s-vid out). The colors are a bit washed out on bright scenes. But it's ok if you don't A-B your results.
As for the software, I never use their rendering software, I only capture. I also found that once you stop capture, you have to switch to the edit mode before exiting or it will hang. It won't even reboot cleanly if I try to exit while in the capture mode - even if capture is stopped.
This device apparently is very sensitive to the type of PC you have. That's because there seems to be no end of driver mismatch problems when combining various hardware and software. For example, you can have trouble if you have a dvd recorder and install the bundled software. It seems that all these drivers and/or codecs have a tendancy to cause incompatibility problems, and the venders sort of blindly install their own codecs etc. and change the registry w/o asking. It's near impossible to back these changes out sometimes.
So, in my case, the video capture is on its own dedicated PC. I don't dare install it on my main PC.
I capture dvd-quality and use other shareware (video redo - $50 and AVS converter $30) to edit and render dvd files which I can burn using the bundled nero that came with my dvd recorder.
A dvd recorder would be nice and more convenient, but then I couldn't select the format I wanted and I can't edit out commercials etc.