Conserving disk space solution

Hi all pros!
I need help with conserving my disk space. I have a total diskspace of around 40016070 gig's = 630 gig's
I was confident it would be enough, but it has shown to be not near enough.
Before I go out to get more disks I need to check with the forums if I could solve the issue by compressing the dv-files.
What takes up all the disk space is a project that involves about 5x2x5 hrs= 50 hours of DV material. Its footage of a 5 day course that needs to be produced for dvd distribution. The footage also needs to be stored as backup. But it simply takes up too much disk space.
I tried to compress the captured dv-files to h.264 .mov files which came out extremely well except for that it could of course not be edited in FCP, which is greatly dissapointing.
I have about 50 dv-files that are around 5-10 gigs each = 250-500 gigs. Is there anyway that i could do to compress these dv files to a format that could still be edited with FC and replace the larger dv files by reconnecting them in FCP?
The files i compressed with h.264 were about 1/10 of the size of the dv-files without loosing anything in matter of quality. Weeee! However, they were useless since they couldnt be edited or reconnected into my FCP project.
I need to do this because after the DVDs are ready I would like to store the raw captured files as backup rather than deleting them.
In addition, I would like to know if there are, or will be, any better solutions for digital video than DV-cams? I've heard that there will be cameras that record directly on hard-drives that cost 5000$ each. I hope they have another format than dv that uses disk-space more effectively like h.264.
Best regards

If you don't need to keep ALL of the footage and just what you used in the final edit, you could capture the material as OfflineRT directly from the DV camera masters... then recapture and keep only what is used in the edit... OfflineRT will allow you to capture about 8 times as much material as DV does.
There are new solid state cameras coming from Panasonic, but the file sizes will be larger, not smaller.. they are HD cameras... will run about $6,000 US plus storage and can record to hard drives, or to PC cards (P2 cards) The PC cards then can be copied to hard drives and reused... they are expensive right now per gig, but you can count on that price going down... Check out this: http://catalog2.panasonic.com/webapp/wcs/stores/servlet/ModelDetail?displayTab=O &storeId=11201&catalogId=13051&itemId=93120&catGroupId=14616&modelNo=AG-HVX200&s urfModel=AG-HVX200
I'm drooling over this format... no tape, no tape and solid state... cool very cool, TRUE HD (NOT HDV)...
Jerry

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    From: [email protected]
    To: [email protected]
    Subject: Best way to organize several versions of Photoshop Elements to conserve disk space?
        Re: Best way to organize several versions of Photoshop Elements to conserve disk space?
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