You'll need to read the manual to be sure it does what you want it to do. Sometimes decks like that don't output analog VHS via the digital outputs.
Pinnicle and Canopus make nice capture devices at many different price/quality/feature points.
In some cases simple TV tuner cards will encode direct to the final mpeg format you may want to archive in.
Mpeg can be almost any bit rate. An hour at a good DVD quality is between 3 and 4 GBs.
200 hours x an average of 3.5GB = 700 GB. Good thing 750GB drives are getting cheaper