There are in fact proof-of-concepts similar to what you describe[1] (this one is based off the Doomsday Duplicator[2], a hardware device used for Direct RF capturing off laserdisc players).
My (admittedly basic) understanding of VHS vs S-VHS decks is that due to the stricter tolerances required by the S-VHS standard, S-VHS decks typically have better transports than regular VHS decks (lower wow/flutter, better tracking, etc...). And of course many of the high-end decks have a built in TBC.