Back when I started, unless your movie originated on 35mm, it wasn’t a real movie. I understand the thinking. There was a time when film looked way better than any other format. But over the past five years filmmaking technology has advanced exponentially. And these days, getting into the feature club, with a good looking (meaning high production value) movie is easier than ever.
While you still need to create a movie worth watching, you can never again use the lack-of-money excuse.
Shoot your first feature in high definition, not DV and not Film. Why? DV looks like crap and film is way too expensive and in my opinion, too risky for a first feature with a limited budget. Shoot your 3rd feature in film, when someone else is bankrolling your movie.
If you plan on directing the movie yourself, make sure you have a great gaffer and a great Director of Photography. The DP usually chooses the gaffer, so let the DP do the choosing. Remember, it’s about the team. Get your hands off the project and just let the collaborative team building process begin. This will alleviate a lot of stress from your production.