OK, Consider me very new at the digital video world and all the stuff....

Tonight I taped a basketball game and the footage was shot 60i at 150 fps. I am not sure why I shot at 150. I wanted it more than 60 (for comparision)and for some reason just tried it at 150.

Anyway, once I captured it with Pinnacle Studio (Firewire) I was looking at the files in pinnacle it told me that they were captured at 29.97 fps.

How exactly does this impact my footage and does it matter much that the capture rate is different than what it was when I shot the footage?

What camcorder are you using that shot at 150 fps? 60i and 150 fps are not both possible together. Do you mean that you shot with a shutter speed of 1/150 second?

60i is 29.97 fps. 60i means 60 interlaced fields per second or 30 frames per second, each made of one odd and one even interlaced field. And it really isn't exactly 60 and not exactly 30, but 29.97 (has to do with original NTSC standards.)

I'm gonna bet you shot at a shutter speed of 1/150. Every 1/30 of a second (roughly speaking), the camera shutter 'opened' for 1/150 of a second and captured an image.

Sorry for the confusion.
Yes It was 1/150 Shutter speed.

So that answered what I wondering. 60i = 29.97 fps.

I was getting my numbers crossed.

How exactly does this impact my footage and does it matter much that the capture rate is different than what it was when I shot the footage?
The impact on your footage is that movement looks crisper. In other words, if your subject is static, or has little moving around, you are fine with shutter speed at 60. But if your subject is running around (generally in sports), then the subject will look soft - so the solution is to bump up your shutter speed. On the down side, the higher the shutter speed, the more light you need.