What sort of hardware are you using to transfer the 3/4 tapes? Is drive space a concern? Are you simply archiving the footage, or are you editing it for output to something like DVD?
I'll be using Front Porch Digital's SAMMA Solo. I'll be making an archive copy (JPEG 2000 lossless) and a couple of copies for production.
I'm planning on making a MOV with PJPEG for Macs using Final Cut Pro, and I want to get a good combination of file format and codec for Premiere.
I'm leaning away from an uncompressed format for the production copies, because of disk space and file transfer issues (there will be a lot of disk space for the transfers, but also a lot of video...). So I'm thinking of a high quality lossy codec for production. The end product could be anything from DVD to web content. I don't want to limit the options by choice of codec during the migration.
If your footage is SD, and I assume that it is, then the DV CODEC, DV/DVC would be the ultimate choice, in an AVI wrapper. The resulting file would be a DV-AVI and ideally with 48KHz 16-bit PCM/WAV Audio.
You might actually be able to use the JPEG2000 files, if they're in a QT MOV container. JPEG2000 is supported by QT Player, and most anything that plays back in QT Player, will play back in Premiere as well. Just an option, if you want to minimize the number of files generated.
You're probably OK with PhotoJPEG or MJPEG, or DV for that matter. I know that there is a great deal of disdain on this forum for QuickTime--and I curse it daily, as well--but honestly, I've never had an issue with a QT file that I could work with in Premiere. I mean, if QT Player plays it, it'll work in Premiere (some codecs won't like AIC or DVCPROHD on Windows, but whatev'...). Usually, there's a lot less headache using a certain codec, like MJPEG, in a QuickTime container versus trying to use it in an AVI container. And you'll be better off when you try to use those clips in FCP; no need for multiple versions, as far as I can see.
I'd recommend downloading MPEG Streamclip if you don't have it, and if you don't already have QT Pro, and run some encoding tests to see what works best for you. I just tried creating Quicktimes with JPEG2000, MJPEG, and PhotoJPEG, and they all worked in PPro, without issue. Less compression will mean more disk bandwidth needed to play the files back, but you can dial in the right quality/size ratio that works for your needs.