I've done this before, and had no problems, I just burned all the raw DV I didn't need onto DVD as data and when I got a new hard drive I put it all back on the new drive with no problems.
Might be better off just transferring them to mini-DV tape though, It's easier to catalogue them then (maybe), and if they're long AVI's it you might have to transfer the whole file back to your PC even if you only need a few seconds.
I was doing it with really short clips of waves so I could just fill up a whole disc to the brim, and if I really needed one clip I could just copy that one back.
__________________ P4 1GB Ram 50+160GB, Win XP, Premiere 6, Encore+Photoshop, Lite-on 4x dvd rw.
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