Yes I did that video. It was a tad ropey- second or probably third generation VHS footage. I put it through a Canopus ADVC-55, which converts the analogue signal to 720x576 DV codec AVI.
I then loaded that file into Virtualdub, applied a few filters to clean it up as best I could, deinterlaced the footage and cropped to true 4:3 aspect, and adjusted the resolution to 640x480- which is what the Youtube and Vimeo sites support. The video was then rendered to h.264 codec.
Sounds easy, but it took the best part of a day of fiddling about with settings before I felt happy with the result. I have another tape with Nicks Amphibious tank with working gun, which is due for conversion.
I'm sure if we get enough slings around that beast we can get it in and out of the water!