3CCD's is a must. Otherwise, you get a lot of chroma crawl, lower resolution, impossible chroma keys... etc... Progressive video looks a lot more like film, and it plays nice on computer displays which are also progressive scan. freeze frames look better too.
In reply to all here... if you can buy an HVX-200 instead... DO IT. Better picture, better post, better everything. Look of film is easily achieved with it too. NO capturing anymore either... backup on DVD's or FW drives if need be... it's a winner of a format, and just blows HDV out the door.
About the only HDV camera that competes is the Canon and only when you capture out it's HD port during the shoot and capture that material as something other than HDV IMHO.
The school I teach at part time, has 3 of these cameras, and abouty 6 HDV cameras, the students are fighting over the HVX's... they just work a ton better, and look a lot more like film. My favorite DV camera is the Panny 100a... this new HVX is it's big brother... same look, great balance to the camera, and all the manufacturers of the accessories of the 100a are implementing them for the HVX... It's the most exciting camera produced in the under 10k catagory in years I think.
HDV is so slow in rendering and workflow in post that it's a no brainer if your time's worth anything to you. FCP 5.1.1 is better at it than FCP 5.0.4, but it's still about 5 times rendering time longer than the P2 material is... P2 is a true HD format, where HDV really isn't... If you don't have a VERY fast mac, the rendering time will simply make it no fun to work with. Quad PPC or dual duo at least I'd think.
Prices are falling on this camera too now that there's a supply... check this:
http://fotoconnection.com/vi-26412______Panasonic-AG-HVX200-1-3-quot;-.html?gclid=CJfZm6Omo4cCFTHTJAod8nhyJg
Jerry