Video transcription

I am setting up a system that I would like to use to input via a video capture card a composite video signal to save onto the hard drive, edit and save onto DVD. The system as it is now is a P4 3.0 gig, 512md ram, 128mb video ram, and 16x DVD burner. The intent is to input via composite video from a camcorder. The video will be from some very old 8mm movies. I know I will have to project the movies onto or into a screen or mirror setup. may main concern is with the capture speed and projected speed of the film, also how much editing will be required to eliminate blank or partial frames due to the speed of the film and capture of only complete frames. What's the best capture card and would a telecine device be worth the cost verses the result.