I would also highly recommend
Virtualdub MPEG2. This is an EXCELLENT video editing FREEWARE program, and it also can compress to DivX and many other formats with all sorts of filters and compressions so you won't need to run show squeeze. It has side by side output views of the video (original and filter/compressed). It has excellent scene transistion and key frame detection to quickly scan to the commercial events and then cut them out.
Regards,
-Jeff
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P4 2.8GHz | Abit IC7-Max3 | 1GB DDR400 ECC | ATI Radeon 9600SE | Hauppauge PVR-250 | SATA-150 160GB HDD | UATA-133 200GB HDD | USB-UIRT | Gyration Ultra GT wireless keyboard/mouse | Silverstone LC03 HTPC case
Samsung SIR-TS160 DirecTV HDTV tuner outputing to SVideo on PVR-250 and all output from the computer going to RGB input on a Mitsubishi 55" HDTV in 856x480. Combination optical input into sound card and stereo left/right into PVR-250. Still working on how to lay down AC-3 tracks from the optical input during capture.
http://www.themcclains.net