I've never heard of huffy. What sort of codec is it? It seems the general workflow on these discs could greatly benifit from some high end gear - hardware translate your analog video to 4:2:2 SDI and capture at 10 bit Uncompressed resolutions. Obviously you're going to have to have a large amount of storage, but you'd quickly factor out artifacts from these other formats.
Well, the "what is huffyuv" bit has been answered (lossless compression) but as I've stated already, there is no improvement between the current 10 bit phillips chip as you can find in the $45 Asus TVFM and supposed "professional" quality hardware. I work for Avid and I know what goes into this "professional hardware." What you're suggesting is what I'm already doing and it doesn't take a $20,000 Media Composer Adrenaline setup to do it. The main benefits of professional hardware are usually A) more inputs and outputs and B) easier to use "all in one" software packages and C) real time video effects. Since I only need one input, and using a number of freeware programs actually gives me more flexibility than working entirely within media composer, and i'm not adding any video effects, that kind of rules out any reason to spend more than $50 on a capture card.