I don’t have that camera so you’d probably have to ask in the Panasonic forum to get a final answer…BUT…
With most cameras like that you can do what you’re asking by using the S-Video output on the camera. Chances are, it IS pre-compression. You’ll need something on your computer that can capture from S-Video, but if you have a card like that you’re set.
Your video is being converted to anaglog in the camera and then back to digital in the computer to do that, so I guess they’re will be SOME loss in quality, but I’m betting it will be very slight. It’s probably worth it if you’re looking to avoid DV compression for something like, say, green-screen work.