It was Adobe Premiere, AVID made competing products.
I dug up the old copy of Premiere 5.1 but no dice on getting that to work well either, it pretty much uses the same backend BTV does for everything.
Frames just drop all over the place when trying to capture using the QT backend.
Yeah ... I'll bet they do.
From what I can recall, any Apple-supplied video I/O from that era wasn't really designed to capture/output high-quality video.
It's probably pushing it to capture 1/4 res video (320 x 240)
I suppose the Wings card and the older OWM's with video inputs were never really fast enough to transcode the video at 640x480 into a format like DV NTSC without just dropping frames like crazy.
Not real familiar with the Wings card but I would guess you're correct.
But even using a setup with a hardware assisted Motion-JPEG compression card, you're still talking about a 4MB/sec SUSTAINED data rate to capture high-quality video @ 640 x 480 without dropping frames ... and that's with the hardware card (or cards in some cases) doing pretty much all the work in compressing the data stream down to a level where the Macs of that era could handle it and get it recorded onto the drive (or more likely drives, as in RAID 0 array)
Without that taking place, the data rate is much higher (uncompressed standard definition video)
This (or something similar) is what it took to make that happen on the generation of machines just prior to the one you are using:
The key in those two pictures are the PCI cards - or more specifically, one of them (if I recall correctly) - which handles the compression of the video data.
The 2U breakout out box just handles the video I/O to the two PCI cards, all the real work takes place on the cards.