Confused!! Please help

[Jascha]

Hello friends,
I am ina right confused state regarding what to buy for what I need to do. Basically first of all I do not use any camcorders. What I need is a system where i can capture my video VHS collection and (after some editing on some, like changing audio tracks... but has to be perfectly synchronised with picture!!!!) transfer to DVD.
My confusion is here as I am new to DVD world.
I was thinking of a Canopus Storm DV2 dedicated PC with a Gigabyte Mobo GA-8KNXP to be able to capture the VHS tapes and also live TV/Satellite broadcasts and eventually burn DVDs. To be able to edit the captured file, what format do I need to capture? Is it DV? Can I edit in MPEG 2? Is there any software like Canopus Procoder perhaps that can convert from Mpeg2 to DV to be able to edit if I capture in Mpeg 2 (in the case of a Canopus MVR1000 capture card)?

The other solution was this: To purchase a Sony RDRGX7 dual format DVD recorder (home deck) and transfer the VHS collection on DVD rewritable and the transfer those discs on to the PC (a normal PC with no Canopus or anything) and then after editing, burn the edited file using a DVD burner. Can I do that? Which one gives me the better results.?
Please bare with my ignorance on the subject but would very much like to purchase the right hardware to get it right the first time.
Many thanks for your help

[bugster]

Just a little help here. For best quality results, capture in uncompressed, lossless compressed (huffyuv) or low loss compression avi (DV is good for this). Do your editing in this format. Only when you have completed your editing should you encode to mpeg2, author and then burn.

Do not capture in mpeg-2 if you want to do any editing more complex than simple cuts. Even this can be difficult and error prone.

Hope this helps.