Once you have that file on the HDD you sould be able to do anything to it. If it's a mpeg format which it should be, should be compatible with iDVD, if not, a quick convert on QT Pro should mend it.Press 'Record' to save your favorite movie or show onto your Mac's hard drive. While in this record mode you can timeshift, fast forward or jump backwards. The compression, which is necessary for the record mode, takes place on the Mac. The USB 2.0 standard is 40 times faster than its USB 1.1 predecessor.
Please note that if you actually want to record 720x480 video with this, you need a dual processor G5. The best you can expect on, say, a single proc. g4 is 320x240. Weak!
So far, I can't get it to record video at all, but I'm guessing there will be a solution at some point.