It really depends on many settings, on both the audio and video side of things. If you follow the compression-settings of this video, then it's approximately 3GB per hour. If you have a Mac, I would definitely recommend using 'Compressor' as it is fairly easy to use and works flawless.
As far as storage is concerned, if you're looking at 100hrs / 300GB, I would definitely go with an external hard drive. Video files are so huge, that they (even if they don't totally fill up your hard disk) really do confuse your computer. Make sure to make some time for compressing the whole thing because it takes hours and hours and hours.... for 100 hrs worth of footage, it'll take days.