Juke99,
It takes me about 3 steps.
(1) First, I have a capture card in my PC (it's a Winfast 2000XP Deluxe---a decent and cheap card). I just plug my VCR into the card, and capture it with the best possible settings. This process is time consuming (length of the tape) but fairly hands-off. Just let it start capturing and come back in time to turn the capturing off.
(2) I use an encoding program (TMPG Encoder...the best) to make the video DVD-compatible. This is also time consuming, but I usually let it run overnight: I start it before going to bed, and it's usually done by the time I get up.
(3) I use a dvd authoring program like Ulead Workshop or DVDLab to create the DVD. Very easy. Takes about 1 minute to get the program settings right and get started creating the DVD, and I let it do the rest (takes less than 30 min).
Again, it IS a time-consuming process, but pretty hands off (I may spend less than 4-5 minutes at my computer during the entire process). Most of it involves waiting for the PC to do its voodoo.