DV is 13gb per hour. I'd simply capture with WinDV (I've tried SC Live on Win 10 but it freezes my machine) then import into Premiere (I don't use it, but the Adobe web sites say that is can de-interlace). Then de-interlace and export as H.264 in your desired re-sized format.
Some other comments:
- Lagarith Lossless encoding (with VDub + Muksun DeInt filter) gives me around 30gb per hour of deinterlaced DV AVI, saving at ~60FPS (on my old i5 CPU).
-If you'll be re-sizing in Premiere, that's another generation down from the "original" H.264. In my view it would be better to simply do one encode, from DV (or Lossless), to the final, "re-sized" output.
I might add I've done dozens of Digital 8 tapes (and bunches of analogue tapes converted to DV-AVI with an ADVC), editing them and outputting to MPEG 2 and MP4/H264). I didn't de-interlace any of them. The only time involved, apart from the real-time capturing, was the inevitable grind for the final encode.
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