Exporting to QuickTime in HD - What codec and options?

I am looking into what is the best option to export movies created with iMovie 08 in HD. My workflow is as follows:
JVC HD7 (Full HD - file extension .TOD) -> MPEG Streamclip conversion to QT Movie (using AIC, at a resolution of 1920 x 1080 (HD 1080i) -> iMovie editing -> ????
I want to be ale to preserve my edited movies in HD, but compressed somehow. The conversion to AIC really takes a lot of space... I have no intentions in keeping the raw video once the movie is completed. I do have QuickTime Pro.
My specific question is: what is the best codec and options that I need to put in order to preserve my finished movie in HD, but compressing enough, so the file size is not outrageous? I am concerned about quality, but I want to keep things in perspective... These are family, home videos. It is the same as for tunes, a 128 or 192 bit MP3 is good enough.
Cheers!

The choice of quality is pretty much down to you. What you really need to be asking yourself is how you will view your finished movies. Currently there are not many options for getting your movies to your tv and your delivery method may well dictate your workflow. I view all my movies on an tv so h264 960 x 540 @ around 5 Mbps does me fine, oddly enough I see no difference between these movies and those I've made at 720p and 8 Mbps.
On lower end macs im08 appears to reduce resolution to 960 x 540 and throw away an interlace field before reconverting to higher specs, so it may be that 960 x 540 is as good as you are going to get. If you have a high end mac and want to stick with 1080i, I'd be going for no more than 15 Mbps.
But hey what's good for me isn't necessarily good for you and I'd suggest you experiment and choose your own optimal settings.

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