Possible to create a file dump of firewire stream?

[summersab]

So, I've hooked up my HTPC, and I have a VHS plugged into a Canopus ADVC300 which plugs into the computer via Firewire. I intend on using it to digitize my tapes, but sometimes, I just want to watch a movie. Long and short of it, is it possible to create a file that can be accessed by Boxee/VLC/other media players that is essentially a stream of what's going into the Firewire port? I know I can dump it to a DV file and play that, but I don't want the file to be saved - I want it to be a stream that dumps to NULL or something. Does this make sense, and moreso, is it possible?

Thanks!