First and foremost, ask the audio facility what they want. I never want BITC, as all I need to know is what is the first frame the file starts on. BITC can get in the way when doing foley so please ask.Also your audio people will advise you on the handle size they prefer.
For pics again ask. If they can run H264, it is a smaller file size. A DV file can be much larger and for long form shows, never fits on a DVDRom so you have to either break it up or send it on a drive.
In short, there is no best way so ask.