To everyone who has a DVD201. I bought myself one and you can easily edit your videos...

The fact that they are already in mpeg2, it will transfer the video rather quickly.

Then import them with Pinnacle liquid Edition 6 or Pinnacle Studio...it also works with Adobe Premiere Element but you need a very good PC or else it will glitch during viewing.

You can also convert your mpeg to AVI using Virtualdub and edit it with the software I mentioned earlier. There are other software you can try but these have been tried by me and works great.