PC/DVDR Interconnections

I am trying to connect my Philips 3455H/37 standalone DVDR and my desktop pc so I can play/record bi-directionally between them. My video card’s performance is more than adequate for me, as I don’t game and I do NOT need TV or FM tuners. The video card is a Radeon x600 16x PCI-E video card, which has 1@: vga, S-video and DVD-I outputs.

The DVDR’s connections:
Front Connections: Audio L/R in; CVBS in; i.LINK DV (IEEE1394, 4-pin) in; S-Video in

Rear Connections:
INPUTS - Analog audio Left/Right; RF antenna; Composite video (CVBS)

OUTPUTS – [2] Analog audio Left/Right; Component Video [Y, Pb and Pr]; Composite video (CVBS); coaxial digital audio; TV-out [RF]; S-Video

My questions:

  1. Is this possible to do what I am describing?
  2. If so, do I need an additional card w/ both audio and video inputs/outputs, a replacement video card with these connections or am I way off base? Also, I am on a somewhat strict budget.
    Any/all suggestions are greatly appreciated.