For me it is a driver issue. When I start the video capture process on Nero my PC reboots/ or blue screens depending on Error option I chose. A quick look at the log reveals the driver for the 6412 is responsible. If I un-install the driver, I can cap video from another source fine in Nero.
I remember when I first connected my cable box to the PC over firewire. I was blown away. Then I started discovering all the limitations and converting the TS files to DVD format was close to impossible without heavily interlaced crap.
Please let me know if you have made any progress.