Recording modes, video formats, and other basic issues!

Hi,

I have just begun recording a series of lectures at my University on a Sony HDR SR10E. Ultimately I am hoping to post the videos on the internet, perhaps in itunes or on a website. However I'm really a bit on over my head and so am looking for any advice I can get!

(1) I'm taking a lot of footage (an hour or two at a time) and so thought the LP mode might be best to keep file sizes reasonable? Am I losing too much quality in the long run by using the long play? If I use the FH setting some of the files have been like 5 or 6 or 7 gig!

(2) My imovie 08 will recognize and import the files from the camera (although it takes ages!), however if I save the mts files on my computer or external hard drive I can't figure out how to import them. How can I do this?

(3) For now I planned to just store the mts files on an external hard drive and then work out what to do with it later, is there any problem with doing it that way? I'm not going to get to them later and find out they aren't the complete files or anything?

(3) What are the best video formats for the internet? I've notices in itunes there are some good quality mp4s and m4vs which are only around 150 mb for about an hour of footage, that would be ideal if I could manage that. BUt I'm not sure how to get the files that small and keep the quality?

(4) I've found a few video converters on the net, can anyone recommend one of these? IS that a quicker/better way of handling my mts files than through imovie?

Thanks!