Being as Photoshop is PHOTO EDITING software, I'd say "no".
While earlier versions of Ps - Extended, and the Ps CS 6 and above, can edit video, on a limited basis, depending on the version of Ps that you have, you can likely edit the material. However, for Capture, it would not be the right program. Adobe Premiere (either Pro, or Elements) would be far better. Also, there is the matter of digitizing your analog material. This article will give you some useful tips on how best to handle that part of the process: http://forums.adobe.com/message/3748554#3748554 It relies heavily on using Adobe Premiere for the editor and also the Capture module.
I just learned Premiere (after having it since CS3) and it's incredible. FAR better for doing video work than Ps.