Beware of the possibility that the audio path inside the Panasonic DMR-ES15 may be degraded. There are reported cases where one or both stereo channels are not working, due to the partial failure of the video+audio switching IC inside the Panasonic, which is really prone to electrostatic discharge damage. I would make sure that it works correctly before starting any serious capture work. Of course, if you bypass the audio section of the Panasonic you will have to take into account the internal delay of the video passthrough in the Panasonic, as Aya_Rei commented. For Panasonic PAL this delay has been stablished to be 120 ms (
german forum link), but I do not know the value for the NTSC ones.