Possible Pitfalls:

Use VP Capture DV with IEEE-1394 and VP Capture otherwise

Bug in VP Capture DV version 1.0.3 (use version 1.0.0)

(But VP Capture 2 has solved the first two problems)

Choice of capture codec can affect capture frame-dropping

Missing playback codecs can prevent playback

Some file types (MPEG, WMV, RAM, MicroMV, ...) can not be analyzed in VideoPoint

You may encounter trouble writing files to default locations in some networked environments

Movie files typically will not fit on a floppy disk (then again, what's a floppy disk?)

Some Digital Video camcorders lack analog inputs

Films are 24 fps while NTSC video is 30 fps; VP Capture lets you compensate

Links:

WebMonkey on codecs