Word is born. I do the same, although I usually watch the recorded video on my puter. I burn some stuff to a VCD, but normally the video ends up on a plain old data CD-R. Digital VCR's (what the TV tuner/capture card is, basically) are much more practical than traditional VCR's. Plus, the media for Digital VCR's is more efficient and effective!
I don't use it at a VCR- no PC in the living room and a picky DVD. I do save some programs as a VCD. This is particularly useful for sharing with relatives in Canada- easier to mail than a VHS tape and not as much hassle with PAL/NTSC (computers and many DVD's will play anything).
That's good stuff if it can record in a compressed format like DivX right off the bat. If you record a program without commercials in DivX, then you have to do zero editing. Well, you can still do zero editing with a program with commercials, but why? Unless you like watching commercials.
Am capturing old movies from the 30's - 50's mainly. Like old westerns. then editing and putting on DVD. Have also done some newer ones, like Tears of the Sun. Have only a P-4 1.5 w/256 RDRAM. Capturing w/ATI 8500DV. Been trying all the software that has free trial available. Looks like Ulead DVD moviefactory 3 disc creator is the winner so far.