finalizing completes the process of recording so that the disk can be read to play. Yes, probably if power goes off, you'll loose the recording as the disk can finish.
Basically, the code written at the end of recording creates a sort of index so the player knows how to read it.
Try cleaning the laser with a bud, if not it's either the spindle motor or laser assembly,
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Depending on the programmable remote you are using they tend to differ a little. For JVC try one of these below:
111, 036, 005, 129, 130, 015, 029 065, 072, 137, 149, 207, 264, 362 408, 496
1011, 1012, 1026, 1049, 1052, 1054, 1055, 1080, 1080, 1092
1117, 1130, 1131,
1227, 1235, 1288, 1299
You can record from an external component, such as a camcorder or VCR, connected to any of the Recorder's external inputs.
1. Make sure that the component you want to record from is connected properly to the Recorder. See page 14.
2. Press AUX repeatedly to select the external input to record from.
• AV1: Audio/Video Input mounted on back panel.
• AV2: Audio/Video Input mounted on front panel.
• DV: DV Input mounted on front panel.
page 37 from manual:
If this fails, try to disconnect the tv input cable and connect the vcr cable.
About a year ago still gives you full UK free guarantee rights (if you're in the UK but similar rights operate elsewhere) and JVC aren't the ones to haggle about a few days (or more) over the date. Get it straight back to where you bought it first. They have to do the rest. Just before that try pulling the AC plug of the unit out and leave it like that for 10 minutes or so then plug back in, switch on and see whats happening then.