Yeah, what I've been doing is streaming the video to a portable DVD recorder and recording audio on a second machine with a Motu 896 and AKG 4000Bs into LIVE. Then marrying up (relinking) the audio and the video in FCP. The DVD recorder is the cheapest solution for me, but it compresses to Mpeg-2. I just don't have access to a DV video recorder with ins and outs I need ins and outs so that I can create a chain. Like DV camera to computer (firewire) mixed in M8, out from Computer to dvrecorder, out to projector. If you want good sound, the second audio set up is essential. Or if your DV camera has an external mike input, one could settle for that. But the high end mikes use phantom power, hence the MOTU 896 into computer rig. The m-audio microtrack looked really nice to me at first, then we found that it did NOT have the 48 volts phantom power that was secified. Only 30 volts. So, it could probably record via my 4000Bs, but at a possible drop in mike sensitivity. So why spend $400 US $ on something that you are uncertain of? And add $200 for a 4 gig flashdrive. Go figure! So, I am really still in the "let's figure out the most inexpensive and elegant solution" phase. By the way, thanks, Akira, for reminding us that M8 doesn't record sound.
And I don't really want it to, as it would probably take a p[erformance hit. That is, unless these new intel macs at 256 Mbs on the graphics and a fast processor and a 7200 rpm HD could handle all that with room to spare.... - Then, yeah, an AV dream come true. like, record audio and logical record the video. Recording audio and video to the HD on the fly sounds like a project for the year 2015.