DV rack is awesome! We used it on our recently completed film (www.sirenthemovie.com) and now I'm working on something else where I have to digitising all of the footage. What a pain. I'm done with tape. Shooting to a hard drive is the only way to go.
dv rack has become invaluable to my workflow in a short period of time. It's not usefull for say, event videography really, where you don't want to be tethered to a laptop, or handeld exterior shots for instance... but on a Dramatic project, say a short film, it's essential.