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Tracy's asked me to help with this one...I'm a manager of a HiFi retailer and deal with all three DVD recordable formats, these being Pioneer (DVD-R), Philips (DVD+R), and Panasonic (DVD-RAM). All have their own extra features here and there. Panasonic machines use a cartridge-type disc but have a great 'time-slip' function. This means you can watch the beginning of a program whilst it is still recording towards the end. The Philips and Pioneer formats use a standard disc that can store up to 6 hours recording at different levels. The more you fit onto a disc, the lower the quality of picture drops. Even at their lowest levels, they are still fully watchable in my opinion and still better any VHS machine.
Contrary to some belief, the Philips format (DVD+R) will play on a great deal of other branded machines...i've tried Toshiba, Sony, Pioneer(!), Acoustic Solutions, LG, Cyber Home, and Wharfedale to name a few, and no problems there. The Pioneer format (DVD-R) wasn't quite as compatible and their machines are also quite a lot more expensive (just under �1,000 compared to the Philips' now around �380).
All formats can copy from TV, video, camcorder easily, and using a Macrovision-disabled (copy-protection free) DVD player...from another DVD as well, but bear in mind there is obviously copyright restrictions that apply. If making back-up copys of your DVD's, cheaper machines tend more to have 'hacks' that remove copy-protection. The cheapest I know of being the multi-region Acoustic Solutions DVD321 at �70.