I have seen so many for`s and against`s on different setups.

Scenario: I want to record straight from vhs to the PC, movies of the kids when they were younger, no editing will be needed, other than if I want to view it on the TV downstairs I would convert it to Divx and either burn to disc and play on the dvd player or just stream it straight to the TV via my Netgem I-Player, although from disc would be my first option. All I need to know is, if anybody has had any dealings in doing VHS conversion what is my cheapest and simplest route? Thanks.