For years the way I did it was VCR to a capture card straight into my mac. I used the Dazzle capture device by Pinnacle Systems, and captured the video into iMovie, (then later Final Cut Pro after I upgraded). Once you have the video captured, you can edit it down to the size you want, then burn it to a disk using iDVD. Whether you use imovie/idvd or whatever is used on the pc side, you will need a lot of hard drive space, probably 30 -40 gigs per two hours of tape. Once it's on your HD you can compress it to any quality you want. I went this route because I got the best original VHS quality and was able to control the final output , instead of letting the all in one vhs-dvd burner decide what worked best. If the videos are that import, drop a few buck on ebay and find a capture card on the cheap. It's time consuming, but worth the effort .