Got this a few days ago. Runs 6 hours in capture mode with no lip sync loss after 6 continous hours of recording S-Video signal from VHS player with TBC.

http://www.newegg.com/Product/Product.asp?Item=N82E16829102186

Picture quality is as good as the Lite-On and JVC DVD-recorder's LP mode, with a video average of 2.2 megabits-per-second in the 352x480 DVD format. (peak set at 7 mbps, rarely see more than 4 mbps)

regular VHS SP and EP tape capture is almost transparent at that rate.

Extracting clips from the big .mpg file is easy with mpeg2cut2

https://www.videohelp.com/tools?tool=Mpg2Cut2