I just upgraded from v16 to the newly released v17 of Movie Studio and noticed that the option to "Import from DVD Camcorder Disc" under Project was removed. I was using this to rip DVDs of home movies for editing. Am I missing something here?
You could keep your v.16 and use that to import. You should be able to open and edit your v.16 project in the later version. Note that you can have both v.16 and v.17 installed simultaneously. Hopefully you have the Platinum versions of VMS.
There's also the "Gary James method" to try for home-made movies. I think it still works with the new versions.