I need to record up to ten hours of video per night from a satellite feed. These are usually four separate blocks of classes for four of my children, K5 - 7th grades. This usually involves four VHS tapes, having to swap tapes in my two machines at 2 and 3 am.
I would like to start recording the classes on my hard drive and later transfer them to Video-CD or some other comparable format. As I am on somewhat of a tight budget, I would like advice on a cost effective method to accomplish this using as much of my existing equipment as possible.

The satellite receiver has RF, AV, and S-Video outputs.
My computer is a Compaq Presario 5410.
AMD K6 400 MHz
128 Mb RAM
SIS 530 Graphics Controller
"ACER" ATAPI CDRW 6206A (2X, 6X)
Card came with a "CMOS Video Conferencing Kit" - "High Speed 32-bit PCI Video Capture Card" (composite and S-Video inputs, 256 - 16M colors, up to 30 FPS, 640 - 480 capture resolution).
Operating on "Win 98"

I know I will have to get a 60 to 80 Gbyte HD, and possibly a faster CDR-W. I really would not mind going to a DVD-R, except for the fact that I would have to replace my entire system due to the "minimum system requirements".
One hour video capacity per disc would be fine, as the individual classes are not over 1 hour each.
One more thing. The software that came with the CDR-W is "Easy CD Creator 3.5a", by Adaptec, and does not have provisions for recording video; only data and audio.
Could you also recommend an affordable software package that would allow time programmed recordings; similar to a VCR.

Any advice you could offer would be greatly appreciated, as most people at the retail level, (even at many "Computer Centers"),
are not very knowledgeable on this subject.

Thank You for your time . A G Carter