Best compression type for camcorder footage archiving?

I have an increasing amount of "raw" digital camcorder data that's been downloaded onto my Mac, taking up increasingly large amounts of disk space. I'd like to archive much of this to DVD or an external hard drive, but may well want to edit it at a future date in FCP.
My question is, what compression format should I use? I'm looking for something relatively "future-proof" in terms of likely developments, but will have as little visible loss as possible. I don't need ridiculously small files - a reduction of anything over 50% of the current 13BG per hour would be a start.
I have Compression Master 4.1, which seems to offer an amazing amount of codecs, formats, rates, etc.

If you captured all the footage (I assume DV) properly in FCP, in other words, with timecode. Then there is no real need to archive that footage. Just keep the original tapes and make sure to keep your FCP project file and any other non timecode material you may have used... music, graphics, titles etc.
If you ever need to re-edit a project. Simply open the project and re-capture the footage.
If you compress it to archive it's gonna look bad next time you use it and you will not be able to match it to any existing sequences.
rh

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