Honestly, I would hold off on any H.264 encoding, if your source is only DV, for quite a while. You would need to make sure that the adoption rate of QT 7 is great enough that it would be a feasible option. And right now, and certainly for the near future, it isn't. There isn't even a Windows version of QT 7 yet. Also, H.464 encoding can take extremely long times to encode, and there isn't much upside to using it for DV compression as compared to SV3 or MPEG-4 Part 2 (given the right encoders), or Real 10 and WMV9.
To be honest I'm not at all bothered about the adoption rate of QT7 - this is for my personal use (along with some 'bleeding-edge' Mac based friends who have QT7).
I'm well aware of the processing requirements for encoding H.264, but are you sure there's no real quality advantage over SV3Pro at data rates between 750-1000kb/s (surely there must be over MPEG 4 part 2!?)
I was really just looking for some hints and tips from those that have done some similar encoding.
Daniel, drop me an email. I plan on running some tests with the various AVC encoders some time this week, and I'll let you know what I come up with, and how much of a benefit there is. I'll also keep everyone here posted.