Sounds like you would really like the HVX200 Clive as it shoots, DVCpro50 and DVCproHD in both 720p with variable frame rates up to 60 (like the varicam) and 1080p/i modes.
HDV is a little better than DV in regards to contrast range, mostly due to the pixel density
I'm not sure I agree Knightly (of course this is all my opinion and not fact). I've found that the new HDV cameras have comparable dynamic range (worse in some cases) than DV because the smaller pixels collect less light making the camera less light sensitive which also affects the signal to noise ratio.
I've seen some great stuff from HDV but I personally wouldn't choose it as a filmmaking format. I think HDV has some really good potential for low budget filmmaking. The increased resolution is priceless when it comes to a film-out type scenario. Of course there's a lot more to image quality than resolution (and often you must trade some quality for higher resolution). The HDV post production process is quite workable if you are familiar with it. It's something to research before commiting to of course. It's not too much of a problem these days.
Here is my personal assessment of the HDV cameras on the market:
JVC HD100 - 720p at 30fps and 24fps : $5495 at B&H
I've seen some rather nice footage from this camera. It's HDV but the codec holds up better than when shooting 1080i HDV as there is a significant increase in data per pixel. The only downside is the lack of a 'reality look' which you would get from shooting 60i (normal video frame rate) as you only have 24p and 30p. The contrast range is quite decent. The standard lens, however, SUCKS. I have never seen a worse lens on a video camera in my life (well in the 3-10K range). It really drags down the usefulness of the camera. You can, of course, throw a different lens on there as it will accept 1/2" and 2/3" lenses but you will not have a wide angle capability. There is a wide angle lens available but it ccosts in the area of 12K - more than the camera itself!
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SONY FX1 - 1080i : $3,129.99
Great deal. You don't get progressive footage but you can convert the interlaced footage to progressive in post (albeit not perfectly and with some resolution loss). If you need HD on the cheap this is absolutely the way to go. No question there. Problems? Lacks XLR inputs.
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SONY Z1 - $ 4,900.00 : 1080i
Good camera from all reports. I've seen some nice stuff shot with this camera and 35mm adapters. Honestly, I'm not sure which I would go for in this price range - the JVC or SONY. I'm very much a fan of progressive video but the lens sucks so much on the JVC... In the end I would probably have to go with the Z1 since image quality is so very important.
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CANON XL-H1 - $ 8,999.00 : 1080i, 1080 30f, 108024f
GREAT resolution in this sucker! Noticeably more than the Sony and JVC cameras. It suffers a bit from low exposure latitude due to it's high pixel density. Following in the XL2's footsteps it has very clean footage and the HDV codec held up alright. Problems? It doesn't shoot progressive - it shoots 'f' for 'frame'. Apparently this is somewhat similar to canon's frame movie mode on the XL1. Still, one might expect the camera to loose resolution from this method but I've been quite happy with the res I've seen come from the camera. Just goes to show that you can't base everything on specs. The major downside? The price. I'm honestly not sure who this camera is targeted at. That's a lot to pay for HDV. If I were going to pay that much I would, without doubt, spend the money on Panasonics new DVCproHD camera... Still if you need long record times you really can't beat a 60min tape (the panasonic has shorter record times as will be shown).
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Panasonic HVX200 - $5,995.00 (base), $ 7,199.95 (2 4gig p2 cards) - 720p (variable frame rates), 1080i 30p, 24p, DVCpro50
If I were making movies I'd buy this over the Canon any day. The image quality is very impressive and the resolution is good. You get twice as much color information with this camera than you do any of the others. Gives better color gradients and is much better for visual effects and keying. This camera is just so darn versatile. It inherits many of the properties of the varicam - most notably the variable frame rates. You can't 'ramp' or move between frame rates on the fly as you can with the Varicam but you can choose between 12, 18, 20, 22, 24, 26, 30, 32, 36, 48, 60fps. Why does that matter? True slow and fast motion effects! Jan of Panasonic claims it gets 7 stops of dynamic range - identical to the DVX. This has yet to be verified by independent sources of course but looking at the footage I think the assessment is fairly accurate. P2 cards are also nice since you don't have to worry about digitizing - you simply plug 'em in and start editing. You can also delete bad takes. The downside? P2 cards. Currently these are rather expensive and have short record times. Definitely not the way to go for event work. There are some hard disk solutions out there though which will allow longer recording. These, of course, must be purchased separately. Some people love the P2 idea - others hate it for the price and record times. Still, you can get the camera itself and 2 4gig cards for less than the Canon. Clearly I like this camera. I own a DVX so I could be accused of bias but really, after viewing the footage and comparing the features, I think this is the camera to own if you are willing to spend more than 5K (I'll buy whatever works best for me and I just don't see how this can be beat for the price). You could, of course, buy the camera without any p2 cards for just under 5K and shoot DV and DVCpro50 (nice format with twice as much color information, though standard definition) if you don't mind waiting on the HD.
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For what it's worth =)