Convert to edit or render when done?
 

I've been playing with a version of Go Pro Cineform Studio at a friend's. Like me he uses Vegas.

I've noticed that the conversion from HDV to 1920 HD within cineform is fine, which means I'll get it in a couple of weeks.

Here's my question:

I've noticed two things:
1-It' s possible to convert HDV footage to 1920 directly from HDlink as you capture. Didn't have my cam with me so didn't try that. But Is it going to be the same quality as when rendering to 1920 from within Vegas?
The reason I'm asking is I've noticed that the conversion is a pre conversion filter called either" fast scale" or "make proxy"

Should I assume the quality of the conversion to 1920 is not as good at capture than when rendering in Vegas because during capture it's a faster process?

Also I've noticed that when rendering through Vegas, there is the option to configure the Cineform Codec as" Enable 4:4:4 encoding (progressive) ( a Studio Premium/Professional feature). I don't see that option at capture?

Don't I want to actually do all my editing in 4: 4: 4?
Which means, wouldn't it be better then to capture the footage as HDV through the HDLINK, then convert it within Vegas to 1920 using the option 4: 4: 4?
4: 4: 4 does give me better option for color editing, correct?
If yes then it's better to convert before final rendering to have the option of 4: 4: 4 than edit in HDV and then render?

Can somebody help me with that?
Thanks
Larry