I tried this as an experiment and it worked no problem. Make sure to use the s-video connection as I couldn't get the RCA connection to work from DVD->RTV. I didn't leave it setup this way because good 'ol Macrosplat causes the picture to be crappy.
If the reason for doing this is to get the DVD video in .MPEG form on your PC, just use SmartRipper and convert. Checkout http://dvdrhelp.com for how-to guides.
Thanks for posting a response. Actually, someone suggested a solution that worked out perfectly. I set "in1" as "other" and from set up select replaytv source and changed to "in1". All worked out with the RCA cable.
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