Thanks to DOOM9 i figured it out. Just in case anybody has the same problem, this is what I did:
1.) Download and install the "BtWinCap driver". Hopefully your card is supported. Click here to check out while you are praying:
http://btwincap.sourceforge.net/supportedcards.html
If your card is not supported, ehrm... buy a supported one.
2.) Now you'll have another capture device listed under your hardware list in Windows, which was created by the setup of the driver. Use that one instead of your capture card. Using that new caption device you should have an entry called "PAL_60" in the TV standard selection drop down lists in your capture applications. Use this one and
NOT the NTSC_M or other NTSC variants.
Also make sure you use RGB32 as color spectrum and 640x480 as resolution.
3.) You could start capturing now but you'll notice that there are a lot of dropped frames, because of some messed up lines probably at the bottom of your video. You need to install the "BT8x8 Tweaker". Read here to find out how:
http://www.doom9.org/index.html?/captur ... eaker.html
Oh and yes, this implies that you must use VirtualDub as your capturing application, which implies that you need a VfW driver for your capturing card.
You could try the Microsoft General VfW Capturing Driver and than choose the new capturing device mentioned in point 2 as source. This worked for me.
4.) Use the link provided in point 3 to tweak your driver in order to remove the unwanted lines. If you are ready, you can test capturing using VirtualDub. If the dropped frames counter remains 0 (well there might be some dropped frames) you are done.
I hope this makes your NTSC VHS capturing using your PAL VCR less more pain in the ass.