Hi Charles,
I'm in a very similar situation. I have bought the camera and love it for what I have been able to work with - DV DV50 and DVCPRO HD 1080 50.
At this time Final Cut Pro, Avid Xpress Pro, Media Composer Adrenaline, Premiere Pro and Sony Vegas DO NOT support 720p 25/50 for this camera.
Its down to the NLE makers to create a new DVCPRO HD codec for their applications which can handle 720 50/25.
Personally I have not seen or heard any clues from Apple as to when they might do this, but I think Shane did mention that he had been given some info on this (apologies if I got that wrong Shane). If I was to guess I would say they will release it around IBC (Sept) so as to make a big splash in the Euro market.
Avid have told me they will support 720p 50/25 in an 'upcoming release'. Not much help I know, but they have been made very aware of the demand for this format support and there are plenty of people in the company fighting for it.
Don't know much about the Premiere Pro support - its possible they will partner with a 3rd party developer, like Cineform, to do this. Currently there is a way to do something like this using an intermediate app from DV Film called Raylight. This does support 720p 25 and works by creating a reference AVI using an AVI codec to read the essence. With this you can work in Premiere and Vegas I believe. Really a workaround at the moment IMHO:
http://www.dvfilm.com/raylight/index.htm
Sony Vegas is a funny one - they will need to include support for the MXF format they did not choose to use. XDCAM uses OP1a and P2 uses the OpAtom spec. I can't imagine they won't do it though, the two departments must be separate enough to be able to see the advantage of dual XDCAM and P2 support. As said Raylight can also be used with Vegas.
Currently Canopus Edius Broadcast is the only app to support the 720p 25, but its skewed towards Varicam and they refer to it as 720p 25 over 60. I tried the demo, but found it hard to navigate, so I did not manage to confirm very much useful info. In general Edius has the widest P2 support though of any NLE at the moment.
Ok, so those are mostly Windows based, but I get the impression that the slower adoption of HD in Europe and the fact that other NLE makers have also sat on this one, has led to a collective oversight from them. Its time they all started competing on this one though!
Keep an eye on this thread also - a developer is creating a DV Rack like app for the Mac which will be in beta soon:
http://www.dvxuser.com/V6/showthread.php?t=51700
The other issue for mac based HVX200 users is the lack of a low cost P2 Viewer app like the one shipped for free for PC systems. The only software available at the moment which can do this is called HD Log and is a very sophisticated cataloging app - its obviously very powerful, but way more than is needed for a simple P2 viewer and costs around $700:
http://www.imagineproducts.com/hdlog.htm
With regard to moving media off the P2 cards and onto your system efficiently, check out this small app from Anders Holck:
http://www.dvxuser.com/V6/showthread.php?t=52654
Hope some of that is useful/new info,
best
Mark
P.S - Check where you are from in your profile 🙂