Backing up unedited family video: Should I capture using FCE or iMovie?

Question

I have >50 hours of family video (kids) that I'm not ready to edit yet. I would like to capture the footage in order to back it up because it is priceless. My plan is to buy some large hard disks and save video there, and then when Blu-Ray comes out, I'll buy a Blu-Ray drive and burn Blu-Ray disks as an additional layer of safety.
The captured files will need to be in a format that lasts. As far as I can tell, both FCE and iMovie save captured clips as Quicktime files, which I'm guessing will be around for a while and compatible with future video editing apps. Both FCE and iMovie can import Quicktime clips. I'll be importing the entire hour of video from each tape, in a single capture.
My question is this:
If...
(a) rendering doesn't bother me (like importing clips using iMovie then editing using FCE)
(b) timecode isn't important to me (iMovie doesn't save timecode)
... is there any reason to capture the video using Final Cut instead of iMovie?
The only feature that FCE has that iMovie doesn't, is the ability to detect dropped frames during capture. Are there other reasons?
I like the fact that iMovie splits the capture into individual clips at each break and saves each clip as an individual file. If you're willing to do the work, FCE/FCP can do this to, using DV Start/Stop detect, making the segments into subclips, then exporting them as individual clips. FCP makes this a practical possibility using batch export, whereas FCE lacks that feature and exporting each clip one by one is impractical (I have maybe 200 individual clips per hour of tape). But this is a task I plan for later. Right now my concern is finding the "best way" to capture and save all this video for later editing.
I guess I could also ask, should timecode be important to me? My tapes contain a lot of timecode breaks, so recapturing video from tape automatically isn't likely to work well. I don't know any other reason timecode might be important for consumer-level family video.
PowerMac G5 Quad 2.5 GHz 3GB RAM   Mac OS X (10.4.7)   NVIDIA GeForce 7800GT

Answer 1

Anthony,
while I fully agree with Al answer, let me add one note in favor of iMovie in answering your original specific question (note: I'm a quite happy user of FCE for all its advantages over iMovie, but for the point I'm going to make).
The basic difference between FCE and iMovie in scene detection (based on the same principle of using date/time breaks as dividers), is that iMovie creates as many media files as clips during capture itself, while FCE Subclips are created AFTER the capture of a unique media file, using DV Start/Stop Detect and Make Subclip, that does NOT splits files.
So you'd better consider now if recovering unused disk space, by trashing unused clips, will be a major issue for you in the future, when you'll be editing your movies. If so, keep in mind that this job is very simple if you captured with iMovie and then imported its clips to FCE (and if you confirm you don't mind about TC and audio rendering), while it is quite complex if you captured directly with FCE, and, I'd say, not recommended unless absolutely needed.
Piero