If you have a digital video camera, most support pass-through mode. This allows you to use the camera as your converter, both in and out.
If you're into spending money, which it seems like you might be, consider this route (unless you need really highend stuff). It works, plus, you get the camera with it. You need to consider how often you will need the converter...if it isn't really that often, maybe a digital video camera is more economical in the long run.
If I had known this when I bought my $400 Formac DV converter 2 years ago, I would have spent the money on a DV cam instead.
Hope that helps.
Later,
Eddie