It would certainly be worth testing - you'd be dealing with much bigger file sizes of course. Good question on the targa files. I think you're right about targa and tiff arriving around the same time. 'Back in the day' tiff was used in the print industry, targa just in the TV world. Desktop video as we know it know didn't exist of course. That TV/video v print background became ingrained - so that's probably why you would have been directed to render targa when learning Maya. Tiff developed into a much more flexible format - layers, alpha, various possible compression options built in etc. while Targa remained a fairly basic - but perfectly good quality format. You can reneder out Targa from AE, but I've not done so in many years. My guess is that the 'better true colour' capability comment is a historical one. When they were introduced I think targa was 'full colour' eg 8 bits per channel, while tiff was not. Tiff rapidly caught up. There would be no difference in quality - so yes, pretty much interchangable in that respect.
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