I have been doing this exact thing. All those USB and most PCI input cards are lame. I found that many of them have severe lip sync problems when clips get too large.

The best solution for me has been the Canopus ADVC110. It appears to the computer as a DV camcorder. Analog in, DV out. Because of this, the quality is superb and it works with basically any software and firewire-equipped computer. There are some less expensive models from Canopus, but this is the one I have.

If that's too costly, there are some DV camcorders than will do the same. Just run your VCR into the camcorder's inputs (if equipped) and you get the same result. You may have one of these already, or can borrow one from a friend.