I use a Winfast TV2000 to capture my home movies from my vcr and the program that came with it (downloadable from Leadteck) will write the file directly to DVD. It doesn't take too long using this method. You can see the computer in my sig, I don't have a powerhouse by any means.
It's nice having them on DVD since it's easier to make copies and the media lasts longer than VHS.
AMD AM2 5600+ Arctic Cooling Freezer 64Pro Asus M2N 2gb Corsair XMS2 250gb SATA Seagate Barracuda XFX GTX260 Core 216 LeadTek PVR2000 Capture Card CoolerMaster Centurian 5 case Corsair VX550 PSU 19' DCL LCD Vista Home Premium 64