Re: Save FCP Project or raw footage?

That makes sense to me. I do keep the original P2 files on hard drives for a while after completing a project, after that just my QuickTime wrapped copies are saved with the project folder. My reasoning is that if I go back to re-edit a video from a while back, I'll start with the same FCP project and am unlikely to log and transfer the files again anyway.

The QuickTime files are the same DVCPROHD data that's in the P2 folder so the only possible loss is some meta-data, and I'm not even 100% sure that any of it is discarded. The only other thing I'd watch out for is if you have a bad or damaged file, it may be easier to recover out of the P2 data than the QuickTime copy. This is why I always check my clips for playback before I delete the working copy of the original P2 folders.

With what you are suggesting the worst that could happen is:

1. You have a damaged or lost QuickTime file and need to re-wrap it from the P2 data.

2. You lose the P2 data but you can still use the QuickTime clips.

Make sure to back up your FCP projects on two drives as well though!