Ulead Movie Factory 3, MPEG's and DL's????

I just bought the Haupauuge PVR USB 2.0 unit a couple of weeks ago and it comes with the Ulead Movie Factory 3 SE and I did 3 60 minute conversions from analog to dvd and they turned out great.
Playable on all of our 5 different dvd standalone players that we have in our family.
I use a BenQ 162I external burner (16X) and the recommended Media that their phone support said has been tested and that is the 4.7 Sony, Imation, TDK, and Maxell R+ and I always burn in DVD ROM and so I am very pleased with my Noob progress so far.
Now I want to convert a 180 minute vhs tape to dvd and was wondering about MPEG's and the DL's???? Would it simply be the same process as I did with my 60 minute vhs tape conversion or is there something else involved?
I ask this as I saw somewhere a comment about "breaking" regarding a DL and being a Noob thought that I should post before I go out and waste $ on a small pack of DL's if the MPEG won't work with them.
I don't understand all the terminology as I see some members are converting "AVI" which I don't know about and I am into MPEG.
And then of course when I do a simple DVD backup I am into Video_TS.

i was considering doing the analog conversion onto multiple dvd 4.7's, however I wondered if i would get a message to the effect that there was insufficient space on the disc.
So I decided before I started to mess around with this project that I should do a post.
I hope that this is not a mundane question, however being a Noob i am confused by all of this conversion.
And as I mentioned this Haupauuge unit and the Movie Factory 3 program are definite "keepers" for me.
Easy to operate and even the tv channels come in super on my notebook, I could not have made a better choice.
It took a lot of reading and comparing with my neighbour who hates his Pinnacle that he bought a month ago and waited to long to return it.
I hope that there are members out there that may have some solutions to my queries before I go out and purchase DL's.
These are all "baby boomer" music concerts that I have a huge selection of and after my researching have found that they are not very likely going to be put onto dvd format and so I want to do it myself.
I also have Hi-8 family video that I plan on converting as well.

Cheers and thanks again.