I am shooting on this same camera. Right now I shoot 480 -59.94 DVCPRO50/60i (aspect conversion set to squeeze to get 16×9) And the video looks awesome.
If I do any Green screen work, I will bump up to 1080i, DVCPRO50. The AVCI recording will gain you some P2 space, but when I upgraded the media 100 to the newest version that supports AVCI It stopped letting me import P2 so I had to step back version. There might have been a fix released, but I’ll wait till the dust settles.