I use one of these.
I won't duplicate prior discussions and while I see your questions, they have been covered in prior discussions so I think you my feel shortchanged.
1. Involving a PC on the capture step usually means about 6 hours of work for each hour of video output.
2. The device I use (link above) has other models out today and I capture to the hard drive then snip it with the rudimentary editor then dub that to DVD in a less than 2 to 1 time investment.
As to quality I don't want to upset you but it's not HD on that tape and you find folk griping about the ratty old video on the 60 inch screen. Go figure,