I'd use wav at 48ks/S then compress to AC3 at DVD author time. No added distortion. DVD can't use mp3, so the authoring program would need to convert to LPCM (same as wav, totally uncompressed, it's 1.536 Mb/S is huge hit on the DVD bitrate limit of 9.8 Mb/S), Mpeg1-Level 2 (sometimes called mp2, it's best quality is at 384kb/S, much less hit on the max bit rate) or AC3 which keeps great quality at 192kb/S.
Fav quote - "Experience is whatcha don't get 'till ya don't need it no more."
System - Athlon 1.4GHz, Win98, Hauppauge PVR250 receiver and compressor.
Software -Magix Movie Edit Pro 10, Nero 6 + NeroVision Express, Moho 4.61, PSP 8.1, Bryce, Quicktime 6.52 pro, Goldwave 5, DVD-Lab.
Cameras - Panasonic GS9, Canon ES8400V, Canon EOS D20 and Canon A70