I tried a Egalto Video Converter. What would be more suitable for high quality conversion? In either PCI card for a Windows machine or standalone converter (like the egalto Video Converter) placed between my Hi8 camera and PC?
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The Elgato performs h.264 compression at 1.4 mbit/sec. That's not going to give you the best Hi8 picture. You need something closer to 4 mbit/sec if you stick with h.264, or a DV card or something fancier like a Matrox or BlackMagic card. I'm still using my Canopus ADVC110 DV converter for consumer video sources.