Quicktime Feature
I have been working on the features section of this website and looking to take advantage of using Final Cut Express HD that I purchased last year.
I have my VCR connected to my Sony DCR-TRV720, as a pass-through and connected to my desktop computer using firewire. I got this working in Final Cut Express, so that I can record video, by using File > Easy Setup and selected DV-NTSC DV Converter. The only downside is that the audio doesn't play through the speakers.
Final Cut Express HD is a great piece of software, and one of the cool things that I didn't know that was included is Apple Compressor. This allows me to compress multiple Movies at the same time! Very Cool!
I currently have Media Cleaner 5 for all my compression, and its a great tool. But its a little out of date and I am unable to compress using the latest H.264 Codec. I am not sure if its worth getting the upgrade to Cleaner 6.5 since that costs $179. I think the key advanage would be the RealMedia and the popular Flash Movie Format that is not available in Apple's Compressor2.
I'll investigate other options, as there might be some plug-ins that might work with Quicktime or Compressor, such as Helix Producer.