Yes. VHS-decode is an attempt to get the signal direct from the tape for high quality transfer. It is basically just using the heads on the vcr to pick up the raw signal and the software then decodes it.

There are some high end vcrs that can do a better job (according to those who have them.) but they are getting old and even broken ones can go for a couple hundred on ebay.

For home movies it isn't worth it since the starting quality probably isn't that great. I've messed around with it for a couple movies that were only released on VHS.