What does a Time Base Corrector (TBC) and digital filter do?
Basically, it corrects some inherit problems with capturing the video from analog tapes (VHS, Beta, S-VHS, VHS-C, etc.). An analog tape moving passed a tape head will introduce a certain amount of jitter from frame to frame. A TBC will stabilize this signal electronically so that the frame to frame timing is rock solid and thus eliminate any tearing of the final captured video. Digital filtering will minimize any noise that is present in the analog signal and thus give a much cleaner looking picture.