I definitly do the second one. But all and all its not very useful. I usually do peice by peice from beggining to end. It gives me a bit of structure so I dont fall behind.
Tropical Films/Short Film Industries.
Director, Editor, Producer, Camera, Actor, Script Writer.
Since 2003.
I capture everything and then edit with that. This does mean I've got 90Gb of Hollow Point files at the moment but it means you have got access to everything you might need. Sometimes we end up using bits of footage from one scene in another scene.
I backup footage on DVDR and DV tape as we go along. This means I've always got 3 copies of the source footage at anyone time!
Listen to matt, backing up stuff is very crucial, if you forget to save, delete something by accident.. and you don't have a backup.. well unless you wanna reshoot the scene..
I capture it all and don't delete anything. My last movie, Shotgun for Mary, takes about 400gb spread over two firewire harddrives. Over 23 hours of raw footage plus seperate DAT audio tracks.
Woah! That would take up half my harddrive! Well, I delete the raw footage from my harddrive afterwords anyway, but keep it on dvds. It's a good spacesaver idea.
I just keep all my footage on DVD in DV format so if I ever need it again, i just import and edit. I have a cabinet full of them. It's much cheaper to do it w/ DVD, since a DV tape costs quite a few times more $ than a blank DVD.