Some people will be very happy with the video quality. Others would hate it.
I find a big difference without the loss of quality by getting video directly from the tape from a video camera.
I prefer digital video, right from the source tape.
Heck, I can see a degredation of the quality just watching the composit video output right from the camera!
S-Video is better, but you will be transmitting/receiving composite video and then with a lower bandwidth than the source materiel, so you will lose details.
If you are in a bind, recording from your downlink can help, but it's not preferred IMHO.
And the video from your still camera will be even less quality!