Video Capture

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I have so many old analog videos that are on the old format (VHS-C) where you have to put the tape into an adapter to play it on a VCR that I want to transfer to DVD's. I am a mac user and I just read about this new Elgato Video Capture ($99.00) that boasts their is no easier way to transfer these old videos. Anyone have any other suggestions on how to do this in a cost effective and easy way?