Hi Tim,
Yes, you would use the component output of the Z1 into the component input of the HD Extreme. The Z1’s component output is RCA while HD Extreme’s input is BNC so you’ll need to use a RCA to BNC adapter so that they play nicely.
The camera should output via the component outputs automatically but you should check the menu options in the camera to make sure it’s outputting at the format you wish to capture.
regards
Kristian Lam
Blackmagic Design