The Getting Started Guide says that after capture, the video is saved in the Easy VHS... folder inside my ~/Movies folder. Well, it is there, or rather two copies are there: one is an MPEG (.mpg) file of 4KB, and the other is an MPEG-4 (.mp4) file of 63MB. But neither of them can be opened by either Toast, iMovie, QuickTime Player, VLC; I'm told that the file format is unsupported or unrecognized.