What is my best hardware/software to convert vhs to digital so I can edit in Final Cut Pro X

What is my best hardware/software to convert vhs to digital so I can edit in Final Cut Pro X?  Wondering if there is a solution under 100.00 or do I need to think a bit more. Thank you.

Have been doing this for some time, my setup:
I use an ancient "Symphonic" VCR player connected to an Elgato Eyetv Hybrid USB dongle.  That plugs into my G5 Mac, 10.5.8, which runs Eyetv software v. 2.5.3.
Recording is dead simple after fiddling around a bit with software settings for channel, etc.  Start the player, hit "record" on the software and wait for the end.
The recording is saved in some obscure ".eyetv" format with file size about 4 GB per hour of recording.  The software has export to a variety of formats including QT Movie which results in a substantially larger file size.
Quality?  Well, it's viewable and usable for archive purposes.  I'm fine with it but more discriminating folks may want something better.  I end up burning the video on a DVD using iDVD and that's not the greatest anyway.
There are various Elgato units available, and the Eyetv Hybrid seems to run bout $130.
Hope that helps.

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    "I am trying to import MPEG-2 files into Final Cut Pro X. I have the raw files from a Sony Handicam HDR-SR5 as well as raw files from an Sony Handicam MDR-CX560. These files were recorded as MPEG-2 files and copied from the camera hard drives (entire folders were copied containind the MPEG-2 fies) to a local hard drive on my computer. Final Cut Pro X does not recognize the files and will not import them. I have tried to use Compressor to conver the fies. I am using the very latest version that touts being able to export to Final Cut X format. I don't see that option anywhere in the settings." 
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    Now you can get DVD Creator which can help you easily burn video to DVD disc/ISO files. 
    Buy One Get Another Free?! Yes, just join Pavtube's Special Offers to get the promotion. 
    PS. If you have any problem, pls contact with [email protected] to get more information. You also can leave a message on Pavtube Community or Pavtube Facebook, we will answer your questions as soon as possilble. 
    Learn more Cameras/Camcorders related tutorial, pls view our FCP Column, etc. on http://www.pavtube.com/hot-topics/

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