Thanks Chris. I’m still not quite sure based on your reply. But, I gather that either is fine and that I won’t be able to tell the difference? This would be my pipeline:
premiere pro cc on pc —> h.264 .mp4 48 khz video file —> chopped down —> ?exported to best fitted codec to have near lossless quality to be archived and worked on at a later time to save space on my machine? —> worked on —> exported to h.264 .mp4 48 khz video file —> uploaded to youtube, vimeo, etc.
That is the most specific I can get with my needs.