You should realize that your Final Cut project is defined as DV-PAL. You may have HDV footage in your camera, but you’re capturing and editing at 720×480 (not HD). Maybe this is your intention, but I’m betting that you would rather capture to a Final Cut timeline that’s HDV-native or Apple ProRes native. Then you wold be able to capture full HDV resolution through FireWire, without downconverting.
Mark J. Hill
Apple Employee #4866 (Retired)