What would be the best recording format for our PanasonicHPX170P when final output will be on a DVD?

Hi everyone! I need your help. We just recently switched to Adobe Premiere and I purchased a Panasonic HPX 170P and we are recording in DVCPRO50 720P. My question is what is the best quality that we should record in if the end process is going on a DVD not on Blue Ray? My boss is curious if we are filming at too high of quality for our DVDs. Or should we keep it at quality this for our internet videos? Thanks so much!