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I have done it like this, but was forced to use WMM for the capture.
By the way, editing is often a multi-program endeavor.
It's impossible that every program will work with every camera and every OS.
PD comes close.
So then, RCA cables from analog camera to digital camera ( this of course depends on your digicam having the conversion ability).
Digicam to computer via firewire.
This will work also to get your vcr tapes digitized, you do not really need to get a converter, you might already have one!
Last, I must admit, the Hi8 camera with firewire seems like it should work.
PD is a SUPER editor, but if it will not properly capture your tape, really, see if WMM will, then go on with your life! Editing with PD is a BLAST!