I've searched around with mixed results.

In transferring and converting VHS tapes to digital, what is the best format to convert to and save, ex........> mpeg, avi, mov, wmv, etc?

I want to retain the best quality image possible, and going from film to digital, I wasn't sure if one format was better than the other?

In addition, in transferring, trying to retain the same quality, if what is the file size based on hours of tape?

I've heard the file size of 1 hour of VHS tape TRANSFERRED to digital is 14gb.
If that's the case, how can video fit on dvd?