Previously I got better results with DVCam on a Z1 than with HDV which I don’t like at all.
I now have the EX1 and it was a good choice. Our current project is for similar delivery specs as yours. We are editing in HD from the EX1 on FCS with a Kona board. When we are ready to master we will squeeze the image in AE and output an anamorphic master to DigiBeta, which the broadcaster will ARC to 14×9. We ran a test before going this route and it works.
If you need to deliver in 4×3 you could use the 4×3 frame markers on the EX1 and pillar-box the picture for delivery. Either way I can’t imagine you’d be disappointed in the fantastic picture quality from the EX1 and if you are careful your ‘down conversion’ will preserve many of the advantages of shooting in that format. An alternative is to drop the final program edit onto a DV timeline – I’m sure you’ll still see an improvement in picture quality over shooting in DV.
I’m completely sold on the EX1 and saying goodbye to tape.