Welcome to the forum KTedeman
Lets see if we can help you out with your questions:
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(somebody please tell me exactly what a vcd is and how one plays it???)
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VCD stands for
Video
Compact
Disk
Basically it is a lower quality disk than a DVD. The file format of a VCD is MPEG-1 where DVD is MPEG-2 and as the name suggests you burn a VCD on a CD-R. You can just play them in most DVD players as if it was a DVD, but it does not have any menus or chapters.To see if you can play VCD's on your DVD player check it out
HERE
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Will I have a problem putting footage from an NTSC camcorder onto my british computer???
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No, you will just be creating NTSC DVD's etc as everything will stay as NTSC. The PC itself will not know anything is different. The software will need to know though so make sure that the software is set so it knows it is working with NTSC footage (at the start of a new project in Studio 9 etc you will be asked to set the project settings for things such as NTSC/PAL etc).
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And, subsequently, will I be able to view these dvd's/vcd's on my PAL tv using my regular old dvd player?
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Just about all UK TV's & DVD players can output/display NTSC, so it should be no problem. RTFM to see if your TV can accept an NTSC signal and the link above should tell you about your DVD player.
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Also, will I be able to send copies home to the states to be viewed there on NTSC???
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As I said above, if you film the footage on an NTSC camcorder it will stay as NTSC all the time unless you convert it with dedicated conversion software. Therefore I see no reason why the DVD's will not work back in the USA.
The only time you will have any problems is if you want to put the footage onto a video cassette as no standard UK VCR's can record from an NTSC source. In this case you would need to convert the footage to PAL and this does result in a loss of quality, but hey so does putting it onto VHS.
Good luck with the creation of your footage onto disks. Let us know how you get on and feel free to ask if you have any more questions.
Mark.