I’m sure that everyone has a different setup that fits them best. I shoot HVX-200 usign the HD modes but 95% of my output is SD still. I just use the G5 2.5 dual, FCP, and I have an Auoroa Pipe Pro SD card and use the SDI out to a DVCPRO 50 deck. I shoot most of my projects in the 720p. Edit just using the 24″ Dell monitor when in HD and then I drop it down to a SD sequence and check everything with my Sony 14″ trinatron.
On location I use a G4 laptop and can transfer P2 using the internal slot on the computer.
I have been happy with this set up. The next step is to go with a Kona 3 card. As far as I can tell the Kona and Black Magic are the same except the Kona card can do a real time HD to SD down convertion.
-Lars