Xpress Pro can edit HD footage, but capture is dependent on which HD format – DVCPRO HD can be captured directly over FireWIre, file based, as you mentioned can also be imported. Formats such as HDCAM and D5 use HD-SDI which needs the Adrenaline hardware and DNxcel board to capture. but once captured can be edited in Xpress Pro as well.
Michael
anything 24fps