Unfortunately to capture quality videos, it will cost some money (around $200).
Hi Def Solution
The best way to do this would be with a
HD PVR from Happauge or a
Hava HD device.
using the above devices will allow you to record in HD but more importantly you can play on your TV in HD.
Now if you don't have an HD TV or don't care about playing in HD you can use the below methods. If you currently play in HD, you do NOT want to play in SD... the difference is HUGE.
Standard Definition Solution
The below video will show you in a step by step how to do this (not me in the video):
The Pinnacle Dazzle DVD Recorder ($49) can be found
on Tiger Direct. The $89 Plus Version is listed on the left sidebar.
You can also find both versions on Amazon.
$70 - $80 - Plus version.
$44 - $47 - Standard Version