From my somewhat limited understandings, I would advise that films in good condition that are transferred to videotape NOT be discarded afterward with only the tape being kept. Properly-stored safety film (not nitrate) can be a far better archival material than videotape, the latter being subject to deterioration over time at a much faster rate. I have 8 mm movies my Dad took in the early 1940s, and not only is the film still pliable and durable, the colors are still remarkably good.
Transferring film images to CDs or other computer media is another story, and perhaps others might comment on the durability of such media over time. This would be necessarily extrapolated, of course, as these media haven't been around long enough for good tests of longevity. I have heard of some audio CDs deteriorating badly within a few years, contrary to the predictions based on the technicalities of digital storage.