I second this ^^! I have used this capture device with my mac and it works wonderfully... you simply plug it in, install the software, and it'll do everything for you. You can set a timer so you can leave your macbook by the VCR as it records while you go do something else and it'll automatically stop after the timer has reached it's setting. It also has a feature that'll automatically put your video in iTunes should you choose that option.
Only thing you should know is DO NOT update to the latest version right away. Unless they've done another update, it breaks support in OSX. I suppose you can try it and reinstall from the included disc if you have problems. I'm just giving you the heads up about it. The driver on the disc (sans update) works with NO PROBLEMS.
Note: If you require full screen monitoring while you record, I'd look at the Elgato eyeTV device instead as Elgato Video Capture does not provide full screen monitoring of video.
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