One consideration you need to keep in mind is that it takes up quite a bit of memory to do the conversion process. If you have a large amount of free hard drive space and not very many movies; then not even a concern. But if your computer don't have a huge hard drive, and you have lots of movies, then... it may be a consideration.
So just kind of remember that whatever system you have, you'll need to estimate how many minutes of video, if you are going to store them, store them and burn them, burn them then delete, etc.
cwwozniak has given some great advice. Just to kinda add, obviously you can use what you have. But... the better video card, the better the quality of recording. Also, you might want to do some video editing, so you may need video editing software.
If you have a mediocre DVD burner, I would slow down the burn process.
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