Thought I’d weigh in with a point of view on this. I’m in the midst of assembling a 2 hour film shot on HDV and cut in FCP5. Normally I would’ve waited to upgrade but the film has to be finished soon so I had to dive in. So far I’ve been very happy with the workflow. I think the HDV format looks pretty good, especiallly for the price of entry. There are noticeable artifacts. You will be limited in how far you can push color correction – shots that are underexposed get VERY noisy very quickly if you try and open them up too much. I find the deck (the Sony HDV deck – can’t remember the name/number offhand) to be less responsive than a DV or Beta deck. But it’s acceptable. I’ve noticed that if I have too many audio tracksin the timeline going at the same time that playback hiccups (where it would not have under my previous setup – FCP HD on a G4 2x1ghz cutting SD). Not sure if this is a function of HDV, FCP5, or QT7. I doubt it’s the machine, which is a G5 2.7. However by exporting to Soundtrack Pro and mixing there and bouncing the mix to two tracks everything works fine. Soundtrack is a superior mixing environment (in my opinion, anyway) to FCP so it’s not much of a compromise.
Hope this is helpful. Feel free to contact me directly if you have questions.
Arthur Vibert
http://www.arthurvibert.com