Firewire disks seem to work fine for DV editing: I don't know about Premiere, but I edited a DV short on Avid using a Firewire drive a while back and had no problems. I was using two seperate firewire cards for capture and drives though.

All of my projects I used External HDs. For one it's the safest way to store your data and the captured clips. Two, I also did mine at school and found that at the end of each semester or quarter, depending on your school, they erase the HD's on the computers in order to make space for the upcoming semester. Third, I hate to say it, but there are people out there that will mess with your stuff. You have to consider the number of hands that will have access to the computer and your work. I did make the mistake of buying a USB External HD and believe me when I say this, IT TOOK FOREVER. All of my projects from that point on, I used HDs with Firewire. Now it's always best to keep in mind, that a the larger the MB on the External HD, the better, but if you are capturing a lot of clips which will cause you to run into problems down the line. The best general rule of thumb is to pick the best clip on of the many that your DP will shoot, this will help you in the long run. Also and finally, when capturing directly to the External HD, there are generally problems with the audio and video remaining in sync, which is a major headache. So my advice with this is to capture on the computer's HD first, then simply copy the desired clips over to your External HD. Trust me, it will make your life much easier.

Good luck

Thank you so much. That information helps greatly!

Unfortunately for me my school redoes the computers every weekend. I went looking for a project I left on the computer friday, on monday, and it twas gone. Oh well it wasn't a class project it was a script and I already had a copy of it XD