Arduino DVR NTSC or PAL

I know arduino is able to output the NTSC or PAL signal, I've played around with the TVout library.
I am wondering if arduino is up to the challenge to record the signal coming in onto a SD card.

I have a project where I need to record a video feed as well as connect the feed to a monitor.

Can someone point me in the right direction on how I can accomplish this.

Thanks

Another question.... I don't think the Arduino would be the right choice for this.... but can you use in to make a wireless extender for NTSC or PAL signal.

I know arduino is able to output the NTSC or PAL signal,

Incorrect; it can output RS170 or CCIR, but the colour sub carrier is beyond its capabilities.

Another question.... I don't think the Arduino would be the right choice for this.... but can you use in to make a wireless extender for NTSC or PAL signal.

No.

Thanks for the replies.

Does anyone have any suggestions on what I could use instead to record a video feed and output that same video to a monitor.