Check out the Plextor TV402U for the Mac:
http://www.plextor.com/english/products/TV402UMac.htm
I have the Windows version of this box.
It also can capture live television.
I was able to record the output of a VHS tape direcly to DVD, in realtime.
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Hi,
I have some old 8mm tapes that I want to transfer over to my mac. Is there any spacific hardware that I can use so I can get the best video quality. Any software? Thanks!

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