I use Premiere Pro 1.5.1 and Aspect HD 4.25 and I want to add both standard dv footage that I filmed with a Sony VX-2100 and some hdv footage that I filmed with a Sony FX-1. I plan on cropping the widescreen hdv footage to 4x3 to match the DV footage.

Should I down-convert the hdv footage with the Aspect HD app when I capture the footage? Do I have to edit this video in a standard definition project or an hdv project?