Do you have a firewire port on that particular camera? or perhaps someone you know has a Hi-8 camera with a firewire port?
---- 1 --- If so, the firewire cable allows you to import high quality video/audio in the same cord and function.
a great piece of software that would heavily acomodate your needs is "iMovie" :
*****DESCRIPLTION OF iMovie**********************************
-I personally recommend getting your hands on a friend's Macintash which just about all of them come with "iMovie" on it. iMovie is about as simple and basic you can get for beginner editing and commen sense, simple layout allows any one-timer to edit a masterpiece.
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I use Final Cut Pro but can always rely on iMovie to help me in simpleness and time while it also delivers a professional look that you and your wife can enjoy.
---- 2 ---- If you cant find a Hi-8 camera with firewire port, want to use it, you can use a piece of media equipment called a "media converter" which allows you to connect your S-video and Right and Left channel audio cables right into the input of the converter while having a firewire transferring all tha information straight to your editor.
Hope this helps out and i hope you can get your hands on the right equipment, good luck on the editing.
*Edit - adding iMovie link. iMovie Clicky!