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Wait, is it P2 or HDV? If HDV, then the best option is to just put the original tapes on a shelf. If P2, the best option is probably to invest in a Blu-ray burner.
We were on a really tight time schedule, and so the P2- workflow got in our way. about 18% of our film landed on P-2, (Just exteriors where we didn't have power) Everything else was done via on-location.
We didn't run TAPE -- Format is onlocation's version of .avi which as best I can figure is DVCPro 100. I don't have access to the camera it was recorded on...and even I did, would this be the best option? (Tape export?)
External hard drives are cheap and easy. Use the project manager to trim your projects or just save everything as is. Save it to two different drives if you want redundantcy. You shouldn't compress your files any more if you plan on ever editing them again.
OK, if the source isn't HDV, then hard drive as suggested above, or Blu-ray disks are you best options. DON'T change the format at all. Just find a way to store those files.