PLEASE HELP: Capturing HDV workflow recommendations

Hi,

I'm new to HD editing, and have a mixed HDV and SDV test project coming up. I wanted to know what your recommendations would be as far as the setup for capturing and editing HDV film.

I am working on a dual core G5, 4Gig Mac, OS 10.4.10 right now. I am also editing with a PowerBook G4, 2G laptop, OS 10.4.10. I have FCP 5.0.4 on my laptop, and am upgrading to FCStudio 2.

I have several questions that I would REALLY appreciate advice on: Is it ok to capture HDV via firewire straight to the computer, or will I need a Kona or some other capture device? If so, which do you recommend? Is there a major quality difference? I've heard many different takes on how to capture, and read many articles on here, but am left confused.

Also, will I need something like the I/O HD from AJA to be able to edit, or will my computer be able to handle it? I was going to capture offline in low res format, do the edits, then recapture in the HD 1080/60 format before rendering and output. Is that workable or will I need to capture in HDV online and edit the actual format that will be outputted?

I will also have to upconvert the SD to HD as the project is to be in HD format on DVD. Is that possible? Or should I downconvert the HD to SD in the firstplace, edit the project as regular DV project, then recapture the HDV at the end, and upconvert the SD? (I hope I'm making some sense)

Is this a project that will have to be done with FCStudio 2, or can it be done with 5.0.4?

I'm sorry if these questions seem stupid. I'm just a little lost and would really appreciate some guidance! What are your workflow/editing suggestions?

Thank you so so so much in advance!

You should be able to handle HDV on that rig. If it does get a bit too sluggish, you can always convert to another codec on capture via firewire.

You can't make much difference to HDV during capture - the information is already encoded into 1s and 0s on the tape - so you won't get quality loss over firewire. It's just transferring digits, not actual pictures.

I'm not positive that 5.0.4 will be fine - I can't remember if it needs to be 5.1 or higher, but someone will know.

Just for reference, I'm teaching a bunch of uni students right now editing HDV on Final Cut Express, on (flat panel) G5 imacs, so you shouldn't really have any trouble.