What kind of processing requirements? What layout of data? How frequent are the updates?
This is a juggling act, trying to decide what resources you want to conserve, what resources you can be fairly generous with, and which issues are important to "hold the line" on just to preserve what little sanity you might have left!
Then I'd suggest that you take the data to at least third normal form. That will avoid most of the ugly problems that you can find with INSERT/DELETE anomolies, but still keep the tables from being fragmented to oblivion.