transfering VHS to digital (DVDs, divx)

Hey guys, I have some vhs tapes with stuff that I want to preserve in a digital format. I have the following, a pc with a tv tuner card that has a coaxial cable port, a dvd+r burner and a vhs tape player. Is this all I need to start transfering my tapes to my computer or am i missing a key piece of hardware. Also what software should i be using in the transfer process, the tv tuner software has a capture setting but it makes a .avi, the quality isn't the best. I was reading that i should transfer it to a mpeg2 format or something? Also what software should I use to make my transfered video dvd player ready? Thanks!

You have everything you need.

Get the XviD codec pack and download VirtualDub - both free. Use Virtual Dub to grab the files. Use XviD video compression and whichever audio compression works best for you. It'll output as AVI, which AVI2DVD or Nero will burn just fine.

I can't remember which audio compression I use at home, but I know it's none of the MPEG based ones, since those desynced the sound when I tried them.