In my *very* limited knowledge of editing HDV, Steven is right on. A couple of months ago, when PPRO 1.5.1 was released, I attempted to edit HDV on my fairly capable system, however the performance was terrible.
Shortly after, Steven reccomended that I try the Aspect HD codec and during installation, I got a message to overwrite the existing HDV installation. This made me believe that Cineform did indeed license the HDV technology for PPRO.
Needless to say, the acceleration and the performance from Aspect HD is unmatched.
As for future updates, I doubt that PPRO 2.0 will be of the same caliber (HDV wise) as Aspect HD, but there should certainly be an improvement.
Aanarav Sareen
Adobe Certfied Expert, Premiere Pro
https://www.asvideoproductions.com/video