I have used DVRack to capture directly to an external HD attached to my laptop. This eliminates the ‘real time’ step of recapturing the footage from tape (in my case)to my editing computer. I just take the HD and remove it from the laptop and attach it to the editing computer. Just for information I use FW connections and during capture my cam is daisy chained to the HD which is attached to the laptop as I only have one FW port on the laptop. Works perfectly. I have captured 2 1/2 hour conferences strainght through without a burble. (technical term!)
Have never tried capturing straight to Vegas (without the DVRack) and I don’t know why.
One thing this does is save wear and tear on the camcorder. I do it without a tape zand the internal mechanics are not running. Just using the lens system. Of course a tape back up might be useful but I would have to change the tape every hour.