Review my video conversion system?
 

Hello, after a couple months of frantically searching the internet for information on this, I figured once I found this forum I'd finally be able to get the best all in one answer.

I started out needing to convert my family's Hi8 tapes, and I went through about 30 of them before I realized that the EasyCap device I was using was absolute garbage (painful I know). I used OBS to capture the video and as I went I tried researching and finding new bitrates to use and all that but by the end I wasn't happy with the result.

I ended up getting the Elgato Analog Video Capture and have been using the Elgato software to capture VHS and Hi8 video as a small side hustle, and it's definitely a step up as it gives much better quality and ease of use, however as I continue to do research I am learning that the Elgato isn't really the greatest either.

So I kindly ask those of you who are more educated than I in this area to please give me some suggestions on how I can improve my system without completely breaking the bank. I do want the best I can get but am also keeping in mind that I am a college student.

-For VHS tapes I'm using a Panasonic 4 Head Hi-Fi VCR that my family used to use.
-For Hi8 I'm using our old sony camera that we used to record our tapes with.
-Elgato Analog Video Capture Device
-Elgato Video Capture Software
-Alienware Laptop with i7 processor

To start with, you'll need to identify the model of the Panasonic VCR and the SONY camera. What you use to play the tapes is the most important factor, and some of these players are far better than others.

The VCR is a Panasonic PV-D47445
The camera is a Sony CCD-TR940

The good capture devices are not made anymore, they stopped making them around early 2000's, You will have to get a used one from that era and use it with Windows 7, use Vdub for capture.

As for players, You happen to have a good camcorder with line TBC and XR option in case the tapes were recorded that way. For VHS you need a S-VHS player with line TBC and use S-Video connection, those are used and going to be expensive for the average user in a good working condition.

What are some examples of some capture devices you would recommend? Also I know that Vdub only records in AVI, and if I want to convert tapes for people so they can watch them, wouldn’t mp4 be more widely accepted by devices?

MP4 is a wrapper, not a format.
Assuming you refer to H.264, that's delivery (output) format, not an ingest (capture) format.
Lossless capture. Edit/restore/encode, output to MP4.

Do you think I could get by with buying an S-VHS player with a built in TBC, switching over to VirtualDub and still using the Elgato capture device? Or do you think that it’s already my weak link?

Elgato earned the nickname "Elcrapo". ;)

Both are the weak link.

You have a likely-pricey and high-end Alienware i7, but the video peripherals are pretty crappy. Would you have bought a used Acer Netbook? Why not? Probably same answer as to why you need to get the quality video gear.

Yes, you can cut corners, but doing so will have a fail rate, and some degree of nuisance. You need to at least get into a good/better/best situation, and Elgato with consumer Panasonic VCR isn't it.

What sort of budget can be allocated? And remember: buy it, use it, resell it.

The Alienware was given to me by one of my friends, so luckily I don’t have to worry about anything on that end. As far as a budget I’d probably be willing to spend around 200 if it’s going to get me to a point where I don’t have to worry about quality. Was thinking about getting an SVHS vcr with built in TBC, and probably a different usb capture device. Obviously use a different software as well.

I appreciate your time by the way, your experience and knowledge on this is invaluable