Is USB3 a fast enough connection for 2013 iMac and Lacie 500gb 7200rpm drive?

Hi everyone,
I'm brand new here having just bought my first Apple product ever.
I'm planning to do some video editing taking mini DVACM video from from my Sony PD100AP.  I do not expect to be doing complex video effects but want nice transitions including colur and sound corrections for approximately 1 to 1.5 hour DVD's.
I am planning to use an external drive to hold video files which seems to be the norm.
My question is, is the USB3 connection as good as some of the hype suggests?  Will the data be transferred without loss or problems?
1 of my Mac's thunderbolt ports is currently feeding a second monitor and I am planning to connect the camera via the second thunderbolt port. I am hoping the USB3 will be sufficient to feed video to a Lacie 500GB 7200rpm external drive.  I know the Lacie is not big but they are quite reasonably priced and have very good consumer feedback compared with other similar Lacies.  I am prepared to buy more drives as new projects come along. I feel that having many drives is safer if something fails.

P Dannenberg wrote:
Will the data be transferred without loss or problems?
USB3 will work fine for your projects and will work fine if you later decide to start cutting HD material.
Russ

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