If (and only if as most don't

) your camcorder has analogue (& DV) inputs enabled then you should be able to copy the VHS directly to the PC only useing the camcorder as a converter. There should be no need to copy to DV tape, putting extra wear and tear on the camcorders heads.
If you then edit etc as required and then just tell Pinnacle to copy the film back to tape. No conversion should be required as the footage will be in DV format at all times on the PC. Yet again no tape will be required in the camcorder and should be able to go directly to VHS PAL (again useing camcorder to convert from DV to analogue).
Of course, if you do not have inputs enabled on the camcorder then none of this will be possible.
Be aware that the quality of playback of an NTSC VHS tape will be lower than a PAL VHS recording on your PAL VCR.
Mark.