Transcoding/Upconverting HDV

Hi everyone, are there any benefits to transcoding or upconverting my HDV footage to 422 prior to my editing and color correcting? Do 422 clips w/422 render settings render more quickly than HDV w/ HDV render settings? Will I have more freedom over the color correction in 422 without getting any transcoding artifacts or quality loss?

Doing anything in HDV takes forever, including transcoding. I wouldn't recommend it unless you have a small amount of material.

One thing you can do to speed up your workdflow is edit as HDV but in your Sequence settings, under Render Control, select your render codec as ProRes instead of Same as Sequence. All your renders will be in ProRes now instead of HDV, and therefore take less time. FCP does, however, have to re-conform back to HDV on output but til then it works great.

Thanks Scott, as of yet however I haven't noticed the ProRes rendering being any quicker than the HDV rendering, on an HDV seq. This made me think that I would need to transcode for the improved 422 rendering speed.