Originally posted by LeroyHowever, the cheapest way to do it would be to record the audio output of your TV or DVD into the mic or line input of your computer. You could get the right cable for about $5 at Radio Shack.
The right cable is a mini-stereo to mini-stereo cable. EDIT: Leroy's response below is better; I had a brain-freeze.
If one has a Creative (What U Hear) or Realtek (Stereo Mix) sound card then one does not even need a cable. Couple a cable/no-cable setup with Audacity and you're set.
I probably should know the answer to this, but alas, I can't think of any. I'd like to capture items from my PS2 directly to my computer without the aid of a VHS machiene. Is there a method to do this?