Call it cheap an crappy if you must, but we have come a long way. Now we have a central server plus a video server. Now all we do is burn our video straight to DVD(yes, while we are actually recording stuff), then we edit the video, and save it to a hard drive.
We also just bought a $5000 HD Video Camera, and we have over $7000 put into our main video system(nice P4), plus a Casablanca video center, and quite a few video cameras and other misc.
The station only serves our town, which is pretty small. It isn't anything professional or commercial, but it is getting pretty good.