Yes, you should be able to import your DV tapes and burn them back out to DVD-Rs. The burner only burns at 2X max for DVD-Rs but that’s fine and they should have a fairly decent chance of being compatible with modern DVD players (supposedly 90-95% success).
The only catch is having the right software to edit your video and burn it. I suspect the TR5s may come with software otherwise you may need to pick up third party software.
[EDIT]
Well, it looks like it comes with Click to DVD which should cover your basic needs.