HDV video capture to external USB 2.0 drive?

[Mr.Gadget]

Is it possible to do video IMPORT in iMovie HD to an external drive?
Is it possible to do this with FCP HD either? If so, how do I set this up?

I have three hours of HDV footage I'd like to keep together.

 

[MisterMe]

As standard practice, professional video editors use external hard drives. However, they use FireWire rather than USB 2.0.