Yes, that’s always a good idea. I do it all the time also. Burn the Project file and files inside the Capture Scratch folder to a DVD. You may need several DVDs depending on how much footage you have. Individual clips need to be less than 4.6 GB, otherwise they don’t fit onto a single DVD. You may back up the render files as well but that’s not absolutely necessary as you can always render again. Then, later on, just copy the files from the DVD(s) back to the Capture Scratch folder and open the project file.
~j
