Yes, Premiere Elements will do everything you want. From capturing to editing (working with video and audio separately, effects, transitions, insert edit, L Cuts, J Cuts, Blue Screen, Titling etc etc etc...) to final output either onto tape again or DVD. After you've done a few videos using PE2, show them to your boss and see if he/she will buy PPro 2.0?

__________________
Better than a poke in the eye with a pointy stick any day...