Not quite, it takes about 1.5hours via firewire to download to PC (for 1hour tape). Then after titling and editing (with Windows Movie Maker) it takes a short time to save it. Then with Nero I author the DVD which takes about 5 hours on my Pentium 4 2.4GHz PC (512M RAM) and this outputs the DVD.
With the Panny, it takes the length of the movie to record to a DVD-R then a few minutes to finalise it. The plan was to take this DVD and re-author with new titling and credits and job done! but not quite