I was able to find a used 1212 on Craigslist for $100. It is rev F and the software included in 3.0 on the CD itself. The unit performed as advertised... Interesting to note, the documentation (slim as it is) states that setting the compression to 5Mb will save the file on a DVD for a 120 min video. I was using a DVD Dual Layer disk so I upped the compression to 9Mb. The file was only 5GB in size, not much larger than a DVD. I set the compression to the max at 13.5Mb and it still was only 8GB, still smaller than a dual layer DVD.
The drawbacks with this system is that the process is real-time, a 120 min movie takes 120 minutes to capture. Then it takes a couple of hours to process and burn to a dual layer disc (speed was 2.4x). Entering chapter stops was very tedious as I could not "fine-tune" the location of the movie... I had to play through the movie and pause where i wanted to add a chapter stop. It takes a few hours to completely capture and burn a movie to disc.
Overall, even at the 13.5Mb compression setting, there is some softness introduced into the image. It looks sharper than a DVD, but only a bit if the DVD was mastered properly (no edge enhancement). Another issue is that the DVRs seem to have a digital output for 5.1 audio but the 1212 has optical inputs only so I am limited to 2.0 channels for sound. I encountered absolutely no issues, using an older 1.7 GHz Intel laptop with 2.0 GB RAM running Vista 32-bit. I thought there would be some issues capturing but all was fine, the only issue was that the video at 13.5Mb was choppy on playback and at 9 Mb was smoother.