VHS-Digital conversion for PPC G4- HELP!!!

Hello everyone I am new to this forum and I thought I would give it a shot. I have a dual 1.42 PPC 2MB L3cpp 2GB DDR SDRAM G4 tower, with two additional dual-250's HDD.. I have been looking online for a while now checking out what would work best for converting VHS on to this system. my goal is to convert, do some small editing, and then archive it on my external in either .avi or .mp4 formats.. I have read in the other forums that using a DV cam is best, but they are usually talking about using it with iMovie or another newer editing program that won't work on my OS...so what should work best? firewire?USB 2.0?one converter box? dv cam plus converter box?? I have 10.4.11OS and really can not upgrade any further. all ideas would be appreciated. This tower is a beast!!! it's from 2001 and it is still trucking.

also,

I am looking at an array of converters that range from 9.01USD to 200+USD....a lot say mac compatible, and pc compatible, but don't give further specifications- what would be best for my old hardware?