The only caveat is that if you want to mix and match footage, they all have to be in the same codec.
For instance, if you want to add this Digibeta footage to an existing DV timeline, you have to digitize the digibeta into the dv codec.
If you choose to use dv50 (which is a nice compromise between quality and space as long as you aren’t doing a lot of effects) you’ll have to redigitize your dv footage into the DV50 codec.
Jeremy
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G5 Dual 2Ghz <> 4GB RAM <> FCP 5.04 <> Kona 2
ATTO 42XS <> Huge Systems 4105 Fibre
OS 10.4.2 <> QT 7.0.3