HD to SD – What format is good to use ?

I’ve got some tedious market research editing to do, and the client wants the footage on a DVD.
It doesn’t need to be in HD, so for hard drive space, I’d rather convert it now to SD but in a format that still retains reasonable quality, and edit from there.

What format could be good to use with Premiere Pro CS4/CS5 (trying not to use CS5 due to lack of plugs that I may need).
:confused:

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