VHS to DVD Archival copy and viewing copy

I want to preserve and have and easy means of viewing 18 hrs of VHS
family recordings some 20 yrs old.

Thinking that there will be better technology in the future.

Should I capture to MPEG2 and keep these copies to preserve the best
quality? Is this the best quality?
Will I be able to edit these files and author new DVDs of larger
capacity (than the current 4.7 GB) in the future?
The older recordings were mono. Should I set up the capture to record
only mono sound?

I will then make a second copy of the tapes to transfer now to DVDs
for easy viewing. Can I use the MPEG2 to produce edited video and
author DVDs with chapters. Can I do this with Ulead VideoStudio 6?

Txs, Carlos

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