I would think using a device that also functions as a video recorder to convert analog to digital would not work as well as a box that was made solely for that purpose, a converter. Some backward compatible machines may not play the "backward" format as well. For example, I've heard Playstation 1 games look worse on the PS2 than on the orginal Playstation.
I just wish people knew more about this stuff like they do with laserdisc players. It's amazing how much people know about the internal mechanics of those devices.
Oh and is there a better free image hosting site that places the images all the way to the left margin? It's annoying having them start above "Order" on my signature.