yup...
i don`t recommend using it.. as i heard from a co-worker..
(VW3. came bundeled with a pyro card..)
that videowave3 had big issues on ntsc-pal.. and 4,3-16,9..
+ overlay..and they have there own "tricky" format..
if they haven`t fixed this issues inn the ver.5.. don`t bother...
why not use adobe premiere 6. with the correct plugs..
you can even transfer you "dvd" to vhs if you wish.