No. However it can edit video that has been properly imported from tape.
How you capture video from tape depends on whether the video is miniDV, HDV or VHS -- and if your computer is equipped with an IEEE-1394 FireWire connection.
It's a GL2 with miniDV. The present laptop does not have IEEE. Any suggestions?
There's so substitute for an IEEE-1394 connection when capturing miniDV. I'm not sure what else to recommend. USB-to-FireWire convertors just don't do the job.
It's possible that an ExpressCard-to-FireWire may work if your laptop includes a port for it, but no guarantees.
Unfortunately, tape-based video -- even digital video -- sort of got eclipsed by memory camcorders over the past decade.