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Well for my videos I recorded them using a mini-DV camcorder. The key is to use a camcorder that supports line-in features (which allot do not) You simply plug the RCA cables in line between the PS2 and TV, or if your TV has RCA line outs you can also plug it in there. I burned four 60 minute tapes.
Then to transfer the footage to my computer I used Adobe Premiere. Some camcorders will give you output options of either firewire or USB 2.0 I personally prefer firewire as it seems to allow for a slightly higher quality input to the computer. Be warned though, the source footage will take up quite a bit of space on your computer. I filled about 18 gig of space with approx 90 minutes of rough cut footage. However that is all 720/480 uncompressed avi files. If you don't have the disk space to spare you can compress your rough cuts using a divx compressor though for maximum quality I would not recommend compressing your source footage because you will be compressing your final cut.
I did all the video editing with Premiere and the audio editing with the wave editor in Roxio 7. I used the Divx 5.2.1 codec to compress the final cut, and used macromedia flash mx for the intro sequence.
This video was the 2nd one I made, I may post the first one but it is a little slow and I was not as happy with the final product. I tried to make the first one a bit more theatrical and it didn't work quite as I had hoped.
For the new video though I have acquired a few extra tools and also upgraded to premiere pro 1.5, so I am hoping that this next one is much better than the others. As a final note if after you finish your videos and you want to burn them to a DVD I have found WinAVI is about the best program to convert the AVI files to VOB then simply use Nero to rip the VOB files to a DVD.
Anyhow I hope I answered your questions, if there is anything that's not clear or you need more clarification let me know. Good luck with your project.
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