Can I capture HDV to PE7 - do my editing - then burn to regular DVD in SD and later burn to Blue Ray in HD?
The second part of this question that I forgot to ask is - am I better off downconverting the HDV to DV in the camera and then capturing to PE7? I wanted to capture and edit in HD so when i purchase a Blue Ray burner I can burn blue ray HD discs without re-editing.
Cetainly with earlier versions of Premiere Elements the advice was to film in HDV and then downconvert in the camcorder before capturing as DV-AVI. Premiere Elements like PPro did a bad job of the downconversion. More recent reports with PE7 have shown that capturing as HDV, editing on a HDV timeline and then burning to a standard definition DVD gives equally good results http://muvipix.com/phpBB3/viewtopic.php?f=57&t=4450 . This is good news if you want to later burn as Blu-ray as you do not have to go through the editing process twice.