Where we were on this situation was, we had a ton of stuff in obsolete formats, clogging a too-small storage room and in danger of becoming unplayable and lost. The expedient solution we decided on for the 1-inch, umatic and betaSp footage was to lay it all off to Panasonic realtime DVD recorders using DVD-R in 2-hour mode.
The quantity of tapes we had to deal with was just too great to try and save it to anything “better” (more expensive) like Blue Ray, hard drives, etc. and the quality of these archives was deemed “good enough” by our staff for the forseeable uses of the footage. The throughput using multiple decks and machines has been good so far: a temp is converting entire banker boxes worth of tapes into a shoebox worth of DVD’s weekly. These are easy and cheap to make additional copies from, and the transfers can generally be done by unskilled temp labor once you set the gear up properly.
Further, once encoded as mpeg 2, you can ingest them into an NLE and authoring software and re-purpose as you see fit for DVD, streaming, podcasting, etc. with no further losses to the original. Yes, you are throwing away some quality with a lossy format like Mpeg2. In our case, literally it came down to “so what, the umatic quality wasn’t that great to begin with, and it’s the difference between something or nothing”.
If one was a fanatical purist, they could ingest the best masters uncompressed into the NLE and save them off to DATA DVD, though you’d have to span the program over several disks using DVD-r. of course, while this stores the program material well, it doesn’t give you something immediately USEABLE without more intermediate steps involved to get the thing back to a program stream somebody can watch. I submit that unless we are talking about a handful of programs, you’re never going to find the time and energy to service a large user community with that workflow. Blue ray might hold an entire program on one disk as data, but frankly, the value for money versus quality level decision has to be a unique calculation for every person that faces these circumstances. What works for us my be abhorrent to you. Your mileage will vary.
Still, I would suggest that for the scenario you laid out, getting everything into one useable, archiveable standard format economically is a good start for whatever you want to do afterwards.