The reason why I was interested in video essentials on vhs was because I would want to compare vcr's in their playback. Some of my videos only exist on 2nd generation vhs tape so I want the best possible quality. Lately I see that someone on the video help forums has posted the JVC SR-W5U is the best vcr ever made. The Panasonic AG-1980 is also highly regarded.
I am not sure about using the time base corrector, is it easy to switch off on those machines if I want? I'm afraid of permanently introducing side effects from "correcting" tape playback (similar to the DVNR on the Star Wars THX laserdiscs). I'd feel a lot safer doing noise reduction in post. Besides, I've captured a section of Hi8 video with the camera's TBC on and off. I used an s-video connection for both but this part of the tape was recorded in the camera's LP mode.

With TBC

http://www.uploadfile.info/uploads/e213bd87d7.jpg

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TBC off

http://www.uploadfile.info/uploads/b80f55876b.jpg

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I think it looks better without TBC as the colors look even more washed out.
And I was only interested in deinterlacing still images like the ones above for display purpose. At this point I'm content to have the video stay interlaced. Even something that could resize the image vertically to half size but keep the full horizontal resolution would be good.