Anyone use the Sony DVDirect VRD-VC20 Capture?

I am using WinXP HOME SP3, 500HDD and 200HDD onboard with an INTEL Q6600 Quad CPU, NVIDIA GeForce 8600GT GPU, and 3.33MB DDR. NERO9

A friend of mine bought a DVD-VC20 Transfer device and could not figure this out. They bought it at Best Buy for $230.00. I told her I had bunches of old VHC Camcorder tapes I wanted to burn onto DVD. I also purchased the Studio 12 Pinnacle hardware and software and still trying to figure that out too.

This DVDirect VRD-VC20 came with NERO6 Software, (because it is old) but I already have Nero 9 Nerovision v. / Express v. / Burning Rom v. with all the Nero9 Apps. Installed on my computer, so I should ONLY install the Application and NO NERO software.

I went to the eSupport page at Sony and it shows both the firmware and software update. VIDEO CAPTURE PLUG-IN v.1.9.3I, & VIDEO CAPTURE UPDATE v.1308) Will any of these downloads mess up my already onboard Pinnacle Studio 12 capture software?

I have (1) a VCR, (2) an Analog JVC 1997 Camcorder, and also a Pinnacle Studio 12 program on board my computer.
The Included Sony software Disc is REV. 6.10W, and I may need to find a possible upgrade to this software.

Before I hook this up, is it possible to capture from analog camera/VCR burn it to computer, then edit any of the bad places out, then use Nero9 to burn, or is this unit strictly for straight non-editable video transfer? Any tricks, precautions I should know about, or is this a waste of time? Thanks for any info on this.