1. A digital video acquisition system, comprising: an imager for generating a sequence of digital video frame data; a master image processor, having an input coupled to receive the digital video frame data from the imager, for encoding the digital video frame data into a compressed format; a master memory, coupled to the master image processor, for storing encoded digital video data; and a first slave image processor, having an input coupled to receive the digital video frame data from the imager, having a control input for receiving control signals from the master image processor, the first slave image processor for encoding the digital video frame data into a compressed format when enabled by the master image processor; wherein the master image processor controls the first slave image processor so that the master image processor encodes digital video frame data corresponding to a first group of pictures, and so that the first slave image processor encodes digital video frame data corresponding to a second group of pictures contiguous in the sequence with, and later in time in the sequence than, the first group of pictures; wherein the master image processor completes encoding the digital video frame data corresponding to the first group of pictures while the first slave image processor is encoding the digital video frame data corresponding to the second group of pictures; and wherein the master image processor stores, in the master memory, digital video frame data encoded by the master image processor, and digital video frame data encoded by the first slave image processor.