Storing your DV video as DV onto DVD would be better. You almost alway lose *some* quality when you re-encode to any codec, including DV. Different DV codecs have different quality as well, so not all DV codecs are created equal. Canopus/MainConcept/Panasonic make good DV codecs. I've read mixed opinions and test results, but the latest I heard is that the Panasonic codec (ver 2.64?) and Canopus EZDV codec are apparently superior. I'm still experimenting with the Panasonic codec, so I can't be sure which one is the best. If anyone knows of a recent definitive DV codec comparison, I'd appreciate it.
Converting to DVD (MPEG2) would cause some quality loss, as MPEG2 is a very lossy codec. If you plan on doing further editing in the future, it would be advisable to store them as DV video. Editing MPEG2 video streams is a real pig as well. I would write the DV files onto DVD-RW so I can re-use that disc after I'm done with the DV footage.
Resolution for DV is the usual 720 x 480/576 (NTSC/PAL), and bitrate is... something like 220MB per minute. I forget the exact bitrate. You should be able to get something close to 20 minutes on a DVD-R/RW.
