Transfering video tapes ?

I want to transfer some art video tapes to DVD's via my PC.

Can anyone recomend an affordable transfer system? I have found a lead £40 which claims to transfer them to camcorders or PC's it has a small box of tricks on the lead the three main plugs on the lead is red yellow and white the 4th lead looks like an aerial plug which I assume does the business but don't want to fork out £40 to find it doesn't work.

Henry
March 2010