offline editing

I have two videos that were shot in hdv that need editing. I plan on converting them to a diffrent hd codec after my offline edit perhaps cineform. I want to edit offline becasue I don't have hd monitors and I would like to be able to see the footage on my regular sd monitor while I am editing (this way the computer can be more efficient as well) I have two questions:
1. How do I capture the hdv footage to be captured as sd dv?
2. Once I am done with my edit and export an AAF how can I get the footage to be converted to a diffrent hd codec than hdv so that the filters and color correcting effects I apply will be applied to the already converted hd codec not the hdv footage have the filters applied and than converted to a cineform codec for example.
Any general useful info about offline editing (tips, experiences etc.) would be appreciated as well.
 
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