have no experience of Pinnacle so cannot comment.
I use 1394 card (fire-wire) and ULead Media Studio Pro V6. This works very well with my equipment and I find it has more than enough capabilities.
The result is either output to Mini DV tape or encoded to SVCD or VCD in Nero and burnt to CD. This output to CD is playable on compatible stand alone DVD players. Plus of course software DVD players on my PC.
The results have been quite reasonable.