The biggest thing, at least for me, to know about HDV is it’s like a DVD: the data is a MPEG stream with GOPs and all sorts of interpolated stuff. And it’s *heavily* compressed…. Now Final Cut 5 will allow you to natively EDIT this MPEG stream, even breaking up GOP… (I saw the demo at NAB, was impressed. apparently it was an engineering nightmare) and I’d imagine Blackmagic will display it for you on a HD monitor (?). But I’d imagine this would be a processor heavy operation and might eat your G4 for lunch.
personally I’m not sold at all on HDV. It seems like a really long stretch to cheat yourself into HD world. That and the “progressive” format just has a weird cadence that doesn’t sit well with my eyes. We’re supposed to be posting on a feature ourselves and they’re talking HDV…. I hope they can wait for the new Panasonic DVCPROHD camera (fall 2005) – seems like a much better budget HD solution.