Does the camcorder have an S-Video out? I'm assuming since it's HiFi8, it doesn't have any digital outputs like USB or Firewire.
If not, you'd want to invest in either a video card or device that has an S-video input for your PC. It will come with the necessary software to make a digital file.
I recommend ATI over Nvidia for slightly better capture quality. Of course it depends on how the new the card is, but generally ATI has better software support as well as a slight edge in overall quality.
~cdogg
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