Working with dv-clips - transcode to other format?


I'm embarking on a project of saving and editing older home videos, recorded with a tape based camcorder. I use dvgrab+firewire to get the clips into the computer in dv-format, but how do I then best work with them? The clips are rather big, compared to the AVCHD that use nowadays (.mts format). Is it a good idea to transcode them, and if so, to what?

My system is Ubuntu 12.10.


For best quality leave it DV. After editing you can render to different formats in different bitrates (e.g. to get smaller files), or render a master to DV and transcode to anything you need.