DV Backup Format?

Twist

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I am wondering if there is a decent format that could be used to backup DV. I have a very short iMovie project but it is almost 12 gigs big. I would like to backup all the clips to DVD-R's but in a more space efficient format than DV. At a future date I might want to work with them again in iMovie so the backup format does need to be a decent quality format. Any suggestions?
 
Pixlet is supposed to be really great, but to my eye it's nowhere near as good as MPEG4. Makes me wonder what I'm doing wrong...

I'd save them as MPEG4s, at a fairly high quality, and NOT scaled down - make sure you pick full res.
 
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