Best way to save iMovie Projects

I am using iMovieHD and have about 50 hours of video to import and then to save. I recently bought a LaCie 250G hard drive. I do not know the best way to save these movies which I have imported and edited but since they are in effect out family treasury I would like a good quality. I can al;ways make new iDVDs from the edited iMovie so assume I will not need to save the iDVD projects. Any recommendations?

I think Apple should post some BIG ads to make some things clear
Hi Hunting,
"Quciktime" is not a format nor a compression method; QT is "just" a socalled container or warpper, containing many media formats (the .mov suffix is irritating people...), have a look here for an overview how many formats 6 codecs are a "Quicktime" file...
... mpeg4 is just one of them...
to answer your question:
that depends MUCH on, what you want to do later with your stored movies:
* dv is highest possible quality with iM files - but: 1h = ~12Gb !!
* mpeg4 my personal favorite, good pic quality, small file size BUT! as any mpeg-"flavor", it is a lossy compression codec...- in case, you plan to make in two years a nice dvd, that lossy mpeg4 has to be converted into mpeg2 (another lossys format) ...
there are some dvd-standalone player on the market, able to playback ISO-conform mpeg4 files (not in a .mov container, but as .mp4....)
* in case, you want re-edit, you need to store the iM-projects...
* the new h.264 is a fanstatstic codec, but too new, as: you need fast Macs for playback and warp-fast Mac for encoding...
summary/recommendation:
hd drives prices drop; I would store in .dv, three times bigger as a dvd (tento 20 times bigger then a mpeg4...) but best format for "post processing" (edits, dvd burns, website compression, switching to mpeg4, h.264....)
to add some silly ToolTime idea (call me Tim, I'm using it, short in money):
just for storage, you can buy 3,4,5 drives plus ONE empty fw-case; it is very easy to build a drive inside such case (two multi-pin cables); transfer files; build second hd into case... you just store the hds... looks silly, but works important: write onto some paper, what's on that drives...

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