I have one of those cheapo mpeg1 hardware encoder card lying somewhere in my workshop. I did do VCD conversion with that long time ago, but the pic and sound became unsynchronized after encoding for some period of time, may need to tweak a bit.
If you want you can bring it over to me workshop, I see if my stuff still works.
oh yes, i wanna convert too, saw this shop offering this service but it cost $30 each, i got a shock. ok is it still as expensive now? i went to the shop 3 years or so ago. but then again, its been so long, my tapes probably became mouldy haha..