It depends on what you are ultimately planning to do with your video.
Do you plan to share it online? But it on YouTube or Vimeo? Add it to a web site?
Output it to DVD or BluRay disc?
Use the output video in another video project?
Share it as a podcast?
Output it for download to a portable device, like an iPod or iPad?
Each has its own unique tech needs. There is no one-size-fits-all solution.
Thanks for the response Steve....
I would like to view the completed movie on my computer and home theater (I have a Western Digital media player) and I would also like the option to make a High Definition DVD so I can share with others.
By a hi-def DVD, you mean a BluRay disc, of course. There's no such thing as a hi-def DVD.
As for your Western Digital Media Player, what format and resolution of video does the device's manual recommend you provide it for playback?