Real time DV transfer/ mpeg encode

[esank]

Is there a way to encode DV video to mpeg-2 on the fly while you are transferring it over a firewire port?

I want to do a direct transfer and burn of video from a DV camcorder without editing, and right now its a two step process of transferring through the firewire and then encoding to mpeg-2 which takes forever. Is there anyway (hardware or software) to combine this into one step and convert in real time?

I have seen a couple of hardware cards but they are very expensive. It seems like all the TV tuner cards can convert a composite video signal on the fly, but I haven't seen anything reasonably priced that can do it over firewire.

[Bondiablo]

Mainconcept MPEG Encoder