I would aslo recommend recording to tape as it is the most robust media format, and the chances are you will only get the one chance to capture it.
A miniDV tape will record 60minutes in SP, or if needed you can get away with 90minutes in LP. There are a few 80minute DV tapes around as well, but use these with caution IMO as the tape will be thinner to get it into the case!
As suggested you could record to tape & onto the laptop, but PC's being what they are they could well crash at any point

or the battery run down etc etc. IMO you are going to find it easier to stick to tape.
As stated though, if you do want to live capture to the PC then the external HDD must be connected via firewire. Any standard editing software such as Movie Maker 2 that is part of the XP install will be able to capture from the camcorder.
Mark.