Today's TV PC Cards all seem to have recording to the PC down pat. You'll need one of those.
All the DVD recorders I've acquired in the last year have software to take that capture and make a DVD that plays on MY DVD player. But I can't tell you what DVD-R or DVD+R YOUR DVD player will take.
It's really a simple problem to solve, but I see people fret endlessly about it.
In closing, you PC will be in the over 1GHz class with sufficient RAM and 10+Gigabytes of free disk space to do an hour video.
Can anyone help me learn more about what I need in computer equiptment and software in order to: record a video "clip" from an online site using a PC DVD burner and playing it back on my stand alone TV DVD player.