Is it too old to have IEEE1394 FireWire connector? This would be the best way.
BUT Alternatives. As it has S-Video, a DVD recorder would do the conversion to digital and record the camera output. I have a Panasonic DMR-ES15EB which will do exactly that.
Another is the Analogue to USB converter, for example the EZCAP.TV 116 EzCAPTURE USB 2.0 Video Capture Device at £21.95 (but beware imitations) It will capture both A/V and S-video. If it works for you, you will be able to record directly on to file in your PC.
Working, yes sorry.... +Your working S-video ( circular connector with weak pins) - some DVD recorders will accept this - BUT the market for these is shrinking as folks use TV-catch-up and on-line services.... Few PCs will accept S-video, so you may have to use other connectors . . . however a stand-alone DVD-Recorder would be the easiest route...perform basic EDITS and burn to DVD . . . this can be imported to a PC and almost any Video-Editor will tidy things up. Usually the cheaper they are - the more difficult to use.
In their day we thought all tapes were wonderful, but nowadays even DVD can be surpassed easily. By using DVD you shouldn't lose anything quality-wise and once in the PC with a good Editor you can fix exposure/contrast/colour balance etc. - and add some music to replace any bad audio.
The important thing is to get any analogue tapes digitised ASAP.
I have that..works great. I recording DV, HDV, etc using that to my computer. I then use a DVD authoring tool to burn to a bluray (or dvd). Or I can use my free Davinci Resolve editor to encode to youtbue, vimeo, etc.
Thing is I have tried several cheaper solutions and they all had issues on mac and windows. Elgato is a big name and gaming recording and for me the piece of mind is worth the extra cost. there is also black magic designs but they are more ezpensive
On another post we recommended that OP use a professional transfer service. This again may be the best way and more cost effective than messing with USB devices.
The Elagato system looks very like the EZCap. Perhaps a matter of "badge engineering".
Resolve used to require a beastly machine.. but todays sub $1000 desktops with the latest version (though still in beta so has some issues) is not nearly as demanding.
I usually lean towards best bang for the buck.. with the added footnote that I will spend more for quality stuff most of the time... but I do opt for the junk from China sometimes despite my wanting to support manufacturing/jobs here in America.. so I guess I am a hypocrite!
As for Elgato device.. interesting on the chipsets. I am not surprised that others use the same one. I tend to think however that individual companies provide their own driver software.. or maybe they re-purpose the default driver software with their own additions. Whatever it is, I have tried 4 or 5 cheap alternatives and none worked well, mostly with dropped frames. My nephew had a good Elgato internal card, so I gave it a try based on that and was pleasantly surprised it worked so well. That was on Windows 10. For sure it may or may not work for individuals based on so many factors.
Ya agreed on the Black Magic thing. I was (still am) a big fan of theirs. Just bought a small HDMI to Thunderbolt device from them yesterday, supposedly good at capturing video from cameras into computers with Thunderbolt.. namely Mac in this case. Hoping it works as the reviews are mostly positive.
I agree that unless you plan on using this device many times or offer to help others in a similar situation, the best course is let a pro convert it for you one time and back it up and be done with it.