I’ve only one HDV project under my belt, on a 2GHz G5, but it was substantial, and I was paying close attention.
There was some occasional driftiness in timeline playback audio sync, and render times for color correction and export took me back several years, but it worked fine, with no video card. It does yield a better output to m2v dvd, and gives me some HD-DVD and H264 options that I didn’t have in DV.
The HDV movie files are about the same giggage as DV, so no problem on drive capacity or thru-put. The HDV mastering tape is $16+ per reel, but you get 64 minutes. It would be a shame to have the nice new camera in the field, and just record DV.
I’d be thinking to make some tests of HDV workflow, before running a major project in HDV on a G4/1ghz. You can do this fairly quickly with a couple of clips, layering, adding titles, color correcting, whatever is anticipated for a travel show. There is a camera menu setting to output HDV to firewire, and the project needs to be set for HDV and HDV capture.
If editing on your system seems too clunky, use the camera to downconvert during capture. The issue is not so much what the audience sees on DVD, as the client wanting to see something t=fore her HDV investment. Later, you can recapture the movie in the future when the HD market demands the increased quality.
I’d be reluctant to buy a new G5 editing system with theintel chip thing up in the air. Maybe after NAB.
Good cutting.