Thanks so much Rich. Looking at some other SD DV clips shared in the low, med, High, Prores options, there does seem to be a bit (slightly) of a difference. Files size, massive difference between the Mp4 and ProRes. Looking at the files on the computer, I also noticed the ProRes file is interlaced which I'm assuming is more of an exact copy of what the original interlaced footage is. Mp4 seems to deinterlace the footage. These are home movies that I'm diving into which probably will be viewed either on i devices or televisions in the future and more then likely not re-edited for quality. But in the mean time, I'll take your advise and go with Mp4 'high' quality which I'm sure will be good enough for future viewing.
Lastly, Is it a good assumption the difference between low, med, high quality is due to different bitrates? Is it possible to find out what the bitrate is on the original DV footage and if you want an Mp4 equivalent, that's the bitrate you pick?
Again, thanks so much for your expertise on this.