deinterlace 1080i60 before or after editing in FCP?
 

I have hours of footage that I will be editing in Final Cut Pro. Ultimately it will be converted to 720p for web, and sent back to tape in either 1080i or 720p (doesn't matter).

Should I edit in 1080i, and then deinterlace the final cut. This way, I would just have to run 1 deinterlace and would keep full original resolution for output to tape.

Or, should I convert each clip to 720p prior to editing. This may make some effects/transitions render easier (smoothcam, slow motion using both fields), but it would take lots of time to render each clip seperately.

Any advice much appreciated!!

Uh.... (without coffee this morning... ) What format are you shooting? Since you ask the question, I'm guessing your shooting HDV or AVCHD? I would say it's always better to edit everything in it's native format, and then downconvert or change at the end. (AVCHD should be changed to something better immeaditly however)

Many will argue. Some editing house down-convert at the beginning because their editors are older and can't keep up.

Now IF you are going to have extensive graphics or special effects for extended periods, pick a less compressed format. you can still stick with 1080i or 720p, but do much of the special effects in DVCPRO-HD or Apple Pro REs or some other format other than HDV 1080i for instance (GOD FORBID AVCHD for multiple layering). It won't look better than your original footage, but with 3 or 5 layers of video/text and filters added on top of, the HDV will start to fail. But back to my original statment. IN general, edit and compost in the best original format you have. Several format changes can have undesirable effects on the image.

format
 

I captured in apple intermediate codec using iMovie, mainly because FCP won't recognize my HV20.

I've heard that using things like smooth cam, or applying other filters to interlaced footage will make it impossible to deinterlace properly later on.. that's why I'm considering de-interlacing first. Also not the most powerful machine (macbook 2GB ram), so 720p29.97 may be a bit easier to handle.
Thanks -

What??? I suck in HV20 footage via firewire and BM Intensity HDMI with no issues that I've ever seen. FCP has not ever had a problem with recognizing my HV20. Check your settings and/or preferences, let us know what you find.

Mark