Request: How to produce original subs in AVI or MPEG

[oldfart13]

Here's my problem. I want to produce original subtitles in an AVI or MPEG before I burn them to disc. What proggies are best for this? I was hoping that SubStation Alpha would have been upgraded to this by now but it hasn't. How about commercial software? Shareware? Freeware? I'm not interested in ripping DVD subtitles. I buy all my DVDs so ripping them is unnecessary. What I have is a collection of old videotapes, some of which are anime that scripts exist for but were never fansubbed. I want to be able to capture the video and sub then release as an over-the-net distro or on vcd. Can anyone help?

My system:

Intel PIII 1GHz
Asus Motherboard (Feb. 2001)
256 Meg RAM
30 Gig Hard Drive (another 40 Gig to be added soon)
ATI All In Wonder 128 16Meg AGP capture card
Matsushita 8583 DVD-ROM drive

Overkill for 352 X 240 29.97fps NTSC capture. The CPU usage never goes higher than 26%!

[Vejita-sama]

SubStation Alpha will do this, you need to get the SSA VDub plug-in/filter thou.