One thing I didn’t bring up in the original article is that if you have a Windows media center pc, then you already have the hardware needed and all you need is the software for editing.  Windows media center has some editing software but it is really basic and will not cover most feature that someone who is looking at doing this will probably want. 

The Pinnacle software is sold without the hardware around $39 to $49 dollars.  I still would recommend for features / price / easy of use, the pinnacle software for your project.

**Also as usual, I do not have any endorsements with Pinnacle or anyone else I mention in my blog.  Those who get mentioned, do so based on my own use or a customer that I support use of the product. Any and all opinions are based on experience and nothing else, your mileage may vary.