if your work is important and to be recalled in the future, you need to go for a new drive for sure. You have so many cameras and so much more footage to deal with and it is best that you go for a new drive, and, in a very little while you will realise that you would need a further drive!
William, I would like to know what your video needs are and what is the importance of your works...are they of a disposable variety or are they of archival quality? Such background information would help you in getting informed answers.
Take care and have a nice day!
My work is just vacation shots of tres amigos in Yellowstone. We went last year too, so I have footage from that.
From last year, if I were to put all the folders that contain data from the raw media, to edited film, to Compressor output, to final DVD output, I am sure it is 2 or 3 tera-bytes worth. If the final DVD went bad would I want to re-create it - I don't know. Would I want to re-edit it in the future - again I don't know.
A quick search of retailers put that size external disk in the $150 to $250 range. So maybe my "real" question is: if I want to archive my project, and move it off my working drives, what do I absolutely have to have and what can I toss?
If you are not really interested to pursue video editing in future, my humble suggestion is this: why not hand over this onorous job to a professional video editor? You would be saving up on time and money and [mental] energy!
If I am offending you with this sort of answer, please forgive me.
If you are keen to do the whole thing yourself, and your ultimate goal is to have DVDs of your footage, then here are some thoughts of a novice to this field
Go for a 500GB FW hard drive and use it mainly as a 'scratch drive'. I understood from your posts that you are not doing multicam and if I am wrong, then stop reading this reply any further.
Import footage from your cameras' footage, not at one go, but camera after camera.
Bring in your GoPro footage first, edit it to become a beautiful video, and export it to be a QT movie, say H264, 720; You can choose your external drive itself to be the destination for that movie. Burn a DVD of that movie and find out whether it is "good". If you are thoroughly satisfied, then you can trash the relevant event and project. Repeat this procedure for the rest of your cameras...and you will have the best of your footage in DVD which you can show to your greatgrandchildren!