[Alexander] “But isn’t HD compressed as mpeg2 in the 4:2:0 colorspace?”
HD, like SD comes in all flavors. What you are refering to is HDV which is even more compressed and with a considered worse GOP fram compression, than the i-frame based DV.
HDV and DV has the same dataflow, so the calculus does not look too good for HDV.
The point is: Go un-/less- compressed for aqusition and editing, then you can finish to any format.
Gunleik