I am using a $300 Canopus ADVC-100 analog/DV converter bridge to accomplish exactly what you want to do. Final Cut Express sees it as a deck and will digitize from it.
One caveat: the first time you stop capturing is the last time, because the next time you try to hit capture FCE detects a time code problem. So you have to close FCE and then re-open it … rinse and repeat.
No, it’s not convenient, but hey, it’s cheaper than replacing editing SVHS decks with DV decks and replacing FCE with FCP, so give it a shot.
Bon Chance,
Peter DiFalco
Technical Supervisor
Academy of Art University