The DVL-700 via S-Video is clearly superior. The rainbowing on the V4400 indicate a low-quality comb filter in the capture card.
As for the first image, can't see what you mean on the left hand side of the video (would help not to obscure it with a huge red line!).
The horizontal lines you see are not interlacing artefacts (trying to be careful with definitions so as not to confuse). Nor do I think they are caused by imperfect y/c separation in a low quality comb filter. I'm not sure what causes this effect, but I have seen it before. In that particular case it was related to the sharpness setting.