If you are watching it through a DSR-40 deck, it will only show you 1 down converted frame of HD. 720 24p is a DVCPRO HD 100 format, not a dvcpro 50 format which can be 480p or 480i. You’ll need to get an hd card like the AJA Kona or the Decklink card and a monitor, or an hd deck. Also, if you go firewire from FCP to your HVX200, you will be able to watch the footage from final cut on your flip out lcd monitor, unfortunately, when the firewire is working the hd component out on the camera doesn’t work. Sorry!