I have studio plus 4.3.3 but it should be the same
1) when you first ask to capture, studio asks you for a file name, and saves it automatically. In the box bottom right on the capture screen is the drive it will store to, and a 'file' icon. Click on the icon, and browse to where you want the avi file to be stored. Best to upload at full quality if you've room.
2) In edit, click on 'file' and one of the drop down options is 'save project as'. You are just sving the project, so there are no settings needed.
3) I make the disc direct, burn it in Pinnacle. It does all the rendering. I always use VBR. If it's one hour you can use 'best quality video' in the settings box, and PCM audio.
Win XP, Athlon 1.8, G force 3 T, 1 60gig drive + 1 250 gig, Pinnacle Studio 9 plus mostly, Premiere 6, and Vegas 5 sometimes, Soundforge, Cool Edit.