Actually, HDV is even more difficult to key than regular DV. The problem is the amount of color information, not resolution. Professional video equipment captures at 4:2:2 color space, which is pretty easy to key if it’s lit right. DV is only 4:1:1, it still has some Chroma information to draw from, but only half of what you really want. HDV is a 4:2:0 codec, which basically trashes the Chroma information; that’s how the HDV codec achieves 1080 lines of resolution at only 3mb/s. The reason to go analog into your NLE (you might even be able to rent an AJA IO from someplace) is to upconvert the DV 4:1:1 to 4:2:2 color space. It basically fakes the chroma information.
Another option would be to key on Luma, instead of chroma, but that would take some very precise lighting to pull it off, and you would probably want Shake to do the compositing.