There are many companys that you can pay to do this, but you can buy the equipment to do it yourself. If you are wanting to transfer them to something like a DVD, then you can by the hardware for around $100 for the good stuff. I recomend the extra $$ and get one to do MPEG4. It has the highest compression.
Look for Go video or something like that. Ebay is a great place for stuff like that.
The best way is to get a decent video card that has hardware encoding, especially if you plan on putting them on DVD. Hauppauge is a leader in the consumer market. They have options that allow you to add a PCI card so that you can keep your existing video card.
The higher the quality (matching the source), the more space it's gonna take up. So make sure you have a PC that's capable of handling large files. And if you plan on doing any editing, recent hardware is a plus.
Please be more specific on exactly what you want to accomplish.
~cdogg
"Insanity: doing the same thing over and over again and expecting different results." - Albert Einstein
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