[reboot]

That's two of the options.
The first allows much more flexibility without wasting time. You can easily edit, add audio, transitions, etc.
The second means, you have to load the disk onto the computer, then edit, in essence, doubling the number of disks you use, unless you only use DVDRW.
Personally, I prefer the ADVC-100 as the best interface.
If you don't want to do any editing, then a standalone recorder is quicker.
The third option is to go cheap, and get a $20 capture card. Capture from VCR to computer, edit, encode, author, burn.
It's more time consuming, but you have a LOT more control over the whole process, and total cost is less than $30, because all the software you need is free.