By all means the HVX200 is a true progressive camera: other than the current Sonys or the Canon it has true progressive CCDs.
What it actually does is interpolate and scale everything internally to 1080p50 or 60 (European or American model). From that format, everything else is derived. While it does not have the same resolution off the chip as the Canon H1 (more like the Sony), it is a very well-balanced camera with a very cinematic image.
In 1080 you have two options: get your images re-interlaced from 50/60p to 50/60i or have every other frame thrown away and the remaining one distributed over two fields, which makes it 25 or 30 psf (progressive segmented frames). The European version is very much like film on video, the two fields come from the same moment in time. We all know that things are more complicated in America or Japan, where you have 2:3 pulldown for film.
But the HVX200 is definitely a progressive camera. It’s a very different question if it makes sense to record in 1080. IMHO, you get only about 10-20 % more perceived resolution but need much more space on your media. I tend to use it in 720p, which feels more like the format this camera was made for.
Regards,
Uli
Author of “DVDs gestalten und produzieren”, a book on professional DVD-authoring in German.