Towards Better Chroma Subsampling - SMPTE Presentation Notes
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To achieve high quality video right now:

1. Get the luma coefficients correct.
   
   
2. Chroma subsampling done 'correctly' will pick up generation loss. Avoiding subsampling where possible will minimize this generation loss.
   
   Acquisition should be 4:4:4 or RAW where possible. Note that many compressed non-subsampled formats (at bandwidth reductions of over 5 : 1) have higher quality than recording uncompressed 4:2:2 (a bandwidth reduction of only 1.5 : 1)!
   
   
3. The NLE should convert all sources to 4:4:4 correctly (e.g. with linear upsampling) and then to the destination chroma format. Unfortunately I am not aware of any NLEs that will easily do this.
   
   
4. Mastering should be done onto the highest-quality format possible; 4:4:4 is ideal. Mastering onto a 4:2:2 full-raster format is fine if you do not forsee future distribution mediums achieving better chroma/color quality than 4:2:2.