I use one of these:
Hauppauge 610 USB-Live 2With an external comb filter (currently Sony MBD-XBR900L for me) and VirtualDub for as uncompressed capture as possible (like 130Mbps video--a 4:04 music video takes up 4.74GB!!!)
I then use Pinnacle Studio for editing. It's not the best, but it's affordable and user friendly.
But if money was no object and I had a lot of time, I'd be using Adobe Premiere.