JVC GY-HD100 (HDV) won't be available till like end of Sep/Oct time frame, and then there's the Panasonic HVX100 (which is HD with 4:2:2 so for keying is much better than HDV's 4:2:0) but with all the accessories, might go up to $13k
You probably should first decide like previous posts said, what/how you plan to do with the film and decide which format is best suitable.
Editing HDV is not too much of an issue but if you want a 'fast' real-time editing for HDV, you might have to consider upgrading RAM, Hard Drive, etc. Software by itself wouldn't be enough... So that's another thing to consider. And finaly, how much of HD output is there available at festival and such?
I am saying this is because most would think shooting in HD would give you better quality etc (obviously with good lighting, careful preparation during pre-production would do the same with SD format), the bottom line is, if you are right now showing it at festival route, most will still use the standard dvd player, which is not HD, which mean, you wouldn't be seeing the 'benefit' of shooting it in HD.
Now as blowing it up for screen playing at festival, you might as well as getting the panasonic dvx100a or xl2

Yes, shooting it in SD still can come up with good quality when projected to big screen (keeping in mind, lighting and pre-production preparation is the key for good result).
I've just landed with a huge contract, a tv show, and after the 6th episode, we are venturing into HDV/HD format and so the JVC and Panasonic are the two I plan to get, but I'm also getting two new HDV/HD editing suites (G5 and PC), just to get a clean and readied system for editing to avoid crashing my DV editing suites. I think proper research and reading a lot of reviews, articles would help. If I can't get JVC one in time (Panasonic one won't be available till Nov 2005 - according to their rep, or later), then I would go with the Sony Z1 just because people have used it and it had find to be good.
Here's some resource links:
http://blog.wiredmetro.com/archives/2005/04/a_fork_in_the_r.html
http://www.urbanfox.tv/articles/cameras/c33hdv_review.html (this one has a nice comparison chart)
http://www.trygve.com/highdef.html (a feature film currently shooting with the Z1)
Johnny Wu
www.mdifilm.com