Technology Connections (YouTube) does some good coverage of capturing/converting analogue video - hardware choices make huge difference. https://www.youtube.com/watch?v=ZC5Zr3NC2PY
There's clearly a need/desire for this kind of stuff (though it's sad how many times I'm approached as someone is near death). Don't wait til that moment to save the stories and memories that you have.
I've been back and forth about how much I want to dive in with this project. If anyone is local and really interested in some of it, drop me a line. There are some cool avenues I've touched - seniors, alzheimers, story capture.