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Phatboy,
If you have a digital camcorder with digital in/out, then there is absolutely no need for a capture card, and this will only reduce you capture quality through D/A conversion.
I capture digitally through an IEEE Firewire link into Adobe Premiere at 100% quality. I then edit digitally and output digitally, all at 100% quality, so the edited movie still has first generation digital resolution.
If maximum quality is your goal then you should be looking to remain in the digital domain from input to output.
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