Is there any such cable out that can convert Firewire to component video cables? The reason I ask is there has been a D-VHS vcr at Best Buy for a long time and I am thinking about buying it if there is a cable that can do it.
There isn't going to be a cable that can do this. Firewire carries a digital MPEG2 stream, and component cables carry analog video.
You could put together a cheap HTPC to take firewire in and output component video.
There's no way to go the other way (Component -> Firewire) without getting some hefty ($$$) pro gear. (This I think is what you're asking to to to get this VCR to work.)
The signal I want to record starts out as component video in HD from a Hughes E86 box and there is nothing out there to record this signal, as far as I know there isn't. I have been searching a long time for this. No All-In-Wonder cards have component video inputs, there is some sort of hack but I am not even going to try it.
To get an HD feed you will probably need about $5000-10000 in pro (like television studio) gear. I have not seen anything that will do it directly, you will probably have to take the component input convert it to SDI and then compress and record the SDI stream to disk and replay it back out the fire wire card.