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Well I'm not sure why your teacher would particularly care how you ingest the video as long as it gets into premiere somehow. Unless your teacher is going to dock your grade for not capturing over firewire, then do it however you want.
Especially since firewire cables are not cheap when you're in school.
If I had your setup I'd just copy off the miniDVD's. It'd be faster than capturing via firewire and wouldn't wear out your camera as much.
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