Separate audio capture is not a bad idea.  You might get a better result from using your protools for A>D versus PCI card video conversion, or hardware video conversion that includes audio.  You would simply use the original audio track as a reference to synch the new audio.  You can not do that in DVD Lab Pro, however.  You would need a timeline audio and video editor to lay out the start points and do some minor time stretch/timecompress (the "new" audio will wander by a few frames over the course of an hour of video from the original audio).
I don't recommend a standalone DVD recorder.  Once your video is mpeg-2 you are handcuffed.
I am very happy with my Canopus ADVC-100 as a conversion device.  I connect it with an S-video cable to a high-end VCR, which also makes a major difference.  I like the JVC HR-S9800U which does HiFi, SVHS, built-in time-based correction, video noise filters, everything you need.  Capture video as uncompressed avi, then edit/tweak/filter in the editor of your choice (Adobe Premier, Sony Vegas), and render to mpeg-2 for video and wav for audio.  Marry the results in DVD Lab Pro.
The best resource for getting started is 
www.digitalfaq.com although there are some things on there I don't agree with, esp regarding audio.
The video section of the FAQ on my trading site has some helpful hints as well.  
http://hard-luck.net/faq.htm
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