I just foun this article which gives the amount of data you get with a dv camera - 1GB will give you 4 mins.
Video compression
DV uses DCT intraframe compression at a fixed bitrate of 25 megabits per second (25.146 Mbit/s), which, when added to the sound data (1.536 Mbit/s), the subcode data, error detection, and error correction (approx 8.7 Mbit/s) amounts in all to roughly 36 megabits per second (approx 35.382 Mbit/s) or one Gigabyte every four minutes. At equal bitrates, DV performs somewhat better than the older MJPEG codec, and is comparable to intraframe MPEG-2. (Note that many MPEG-2 encoders for real-time acquisition applications only use intraframe compression [I-frames only], but not interframe compression [P and B frames].) DCT compression is lossy, and sometimes suffers from artifacting around small or complex objects such as text.