Yeh ive been recording in HDV and downconverting through the camera as i capture it via Firewire. Ive read a few articles/posts where it has been recommended to do this as some believe you get a better picture shooting in HDV then downconverting (as opposed to shooting in regular definition in the first place). When i capture (in Premiere 1.5) the footage is captured using ‘Panasonic DV codec’. When i put the footage in After Effects, then render it using the same codec, i get a file almost same size as the original but it looks to me to have lost a little quality. When i render using ‘No Compression’, i get a giant file that struggles to play back in Media Player.
I suppose this is just the nature of the beast, but ive been capturing and using standard DV footage in Premiere and AE for a few years now and have never had a problem. Large, effects laden AE renders tend to be big, but i hadnt noticed short, unaltered footage becoming so unwieldy too.