What capture format should I use for VHS to PC?
 

Hi I want to digitally transfer a ton of old home recording VHS tapes to PC. But I'm a bit confused on formatting.

I'm wondering what format could do this most efficiently in terms of file size but where it keeps the detail for the larger screen. I don't want to loose the option to burn some portions to disk to watch back on TV. I know the rip files are usually huge so I mean what would at least be relatively smaller.

I'm using Power Director v8 I got ages ago. The file transfer options on it are: AVI HQ and Mpeg-2 (DVD).

I wasn't sure I should use MPEG-2 at first because I read somewhere it has a loos of detail. But then I saw there are different options like:

DVD-HQ (fast)
DVD-SP
DVD-LP
DVD-HQ

The bold ones were described as 'fine' encoded in the software window. Does that mean they are not going to loose quality?

So I was wondering which would be best between these? : AVI, DVD-LP or DVD-HQ.

Also if I should be using a different transfer software with different/better options?