We've told you how to convert VHS tapes to digital files before, but if you don't have a TV tuner card with RCA inputs, like Chris points out, then you'll have to resort to a few other methods described on his post.

I personally have had great results with my Sony DVDirect DVD recorder, but if you're looking for a simple solution for someone who's not very tech savvy, check out VCR2PC.

Wired says the VCR player converts movies into MPEG-4 files with the included software and uses a USB connection to store them on your computer. Once digitized, your movies can play on your iPod, PSP, laptop, and of course, they can be stored in a DVD.

The device has RCA video/audio inputs in the front, which come in handy if you still have an older 8MM or VHS camcorder. It can also be used as a regular VCR when it's not converting video. Wired s says VCR2PC retails for $250, which I find extremely expensive compared to the Sony DVDirect, but I'll let you be the judge of that. 

Does anyone have any other suggestions? Do tell us what method works best for you.  

Related:

Converting VHS Tapes to Digital Files or DVD
Sony DVDirect: A New Videotape-to-DVD Option