deniro,
My sister recently asked me whether she should convert some of her videotapes to DVD. These are homemade tapes, not store-bought movies.
I recently converted family VHS tapes into .mp4 files using this device:
Elgato Video Capture. H.264 is also available.
There are some reviews and demonstrations available on YouTube.
For me, the storage medium for those videos is now a hard drive, back ups, and iCloud.