Hello my name is***** and I would be happy to assist you today.
Yes the camcorder is old, but from my understanding you should still be able to capture the video from it.
Here are few things I would make sure of.
1) On the camcorder itself, make sure it is plugged in to AC power and that the camcorder is set to Player mode.
2) Make sure the driver software for the EasyCap is installed.
3) Try using the Ulead software that came with the device.
4) One last note, I am not sure where you purchased the EasyCap, but doing some looking at the reviews online there are some stating that there are knock offs floating around. Also, according to the EasyCap site, there are new versions of the adapter available. Do you have the newest one?
5) I think if this fails you might need to consider a different adapter. The EasyCap website states that the new version will work with Windows 7 so 8.1 should still be fine.
Let me know, if any of the suggestions help. Thank you.