I have a similar concern, and it depends on many factors. First one is weather you bump the SD up to meet the HD and what you use to do it with. I understand that FCP5 has a nice scaler to make 480p a good match to 720p. The jump to 1080 would be too much for SD to look good. You will notice a difference in the SD looking softer, but as you say, you will not be jumping back and forth so that works in your favor. There are some other “uprezzers” out there. One that comes to ming is InstantHD. But if you got FCP5, the uprezzing is free. The other factor is, what is the distribution? If you know that it’s going to a film print, then by all means shoot the best you can get, but for a dvd or tv the added cost may not be worth the upgeade.