Well, HDV is a loooong way from lossless… It’s in fact very agressively compressed (that’s why HDV can be recorded to the same miniDV tapes that DV could). And whether or not it’s broadcast quality depends on who you talk to. It’s certainly no golden standard…
I wouldn’t call it old fashioned, though… Just less shiny then the latest and greatest offerings. There was a time when consumer tapeless meant super-compressed, ugly video, but now the higher bitrate flavours of AVCHD (the format used in card and HDD-based cameras) use more advanced, efficient compression than HDV, to deliver higher quality images with less artifacts, and at a lower bitrate. The tradeoff is that you need more processing power to work with the footage.
Codec aside, going tapeless has its own merits (well… card-based tapeless. Exclusively HDD cameras are… not so ideal, for a variety of reasons). Tapeless means no tape dropouts, cards take up less space, faster than realtime capturing, etc…
To get back to your original question… the only really major upgrade the HV40 is offering is native 24P recording capability (as opposed 24P in a 60i wrapper). If you’re planning on using both cameras interchangeably or for multicam work, you’ll probably want to stick to a common framerate/pulldown scheme (ie not native 24P). And if you’re always shooting in some other mode (24PF, 30P, 60i), there won’t be any difference between the HV30 and the HV40 anyways. You could even wait until the HV40 launches and then get an HV30 on clearance.
Hope that helps,
Gord