you should be fine. the only real caveat with HDV is that you will need to render the whole timeline in full quality before you can layoff back to HDV tape… this is because, as you edit, FCP is breaking up the native MPEG2 Long GOP structure of the source clips, and will therefore need to rebuild this structure for your finished sequence before it can transfer it back down the firewire to the deck.
another limitation that may be worth noting is that you do not get realtime HDV preview via FW during the edit (for the same reasons as above) … you’ll probably need to use the “Digital Cinema Desktop” option to preview your edit in reasonable quality, but this is progressive only so beware of flash frames