do you have an old DV camcorder ? you’re going to need one to play the tape in the first place. ebay has plenty of such things. just make sure it has DV out.
the best way to get the video into the PC is by a firewire port from the camcorder to the PC. your old dell laptop may have one – most older dell laptops did
firewire transfers the footage from the tape into the Pc without loss or conversion. flip side is that a DV file is quite large ( 174 mb per min or something like that ) … but its also easy to work with as the compression is very basic, and not too taxing for an older PC to do**
Editing it is simple enough with the like of Movie maker in windows. it does a decent enough job … although I found it didn’t handle MP3 music all that great.
I personally like the DV file format … its decent quality, quick and easy to edit and is a great match for DVD output.
** the more compression, the slower it is to work with files … which is why HD footage and more modern stuff needs more powerful PC’s cause the compression is so complex. )