I have some old VHS tapes that I would like to digitize. I have seen some expensive converter boxes, that come with proprietary software, that you can buy that will auto-encode and create a DVD for you, but I'd rather be able to import the video directly to iMovie or Final Cut Pro so I can work with it how I want. Quality isn't critical, so I'm looking for an inexpensive, "do-it-yourself" solution, that would ideally allow me to import the video into my software of choice, rather than paying a company to do it for me.
What is the best way to connect a VCR to my Mac, so that I can import these videos into iMovie or Final Cut Pro?