I'm struggling to find out what you want to know?
Its like asking, can I make an acceptable movie on a GL2 or a DVX100?
The answer is, yes, it has been done, and it has a lot less to do with the camera than the lighting, angles, acting, etc. not to mention the prowess of the operator of the camera.
It has been said that if I gave you a Genesis or RED to make your movie, if you point it at a subject and press record, you're going to end up with shaky 4k that looks like shit. End of story.
What you need to do is take the camera, put it on a tripod, jib or steadycam, dial in the camera's settings for color, gamma, etc, focus correctly, expose correctly, have pretty lighting, pretty sets, pretty actors, etc etc etc.
If you're asking whether its good enough for the Discovery Channel, they've already said they don't take HDV as a source. If you're asking whether its good enough to play at some film festivals, it is WELL beyond good enough. If you're asking whether its the best format to output to 35mm for national theatrical release, no HD is not the best format to use for that purpose, and in that case you might want to shoot 4k. But then again the difference in price to shoot 4k and HDV is STAGGERING. So, what do you want to do with it? If you want the best camera on earth to make movies with, just go buy a RED or rent a Genesis or shoot 35mm or 70mm. If you want to make high quality movies for film festivals or DVD, there is absolutely nothing wrong with HDV, in particular the A1. Hell, I remember when the FX1 and Z1 came out all the panasonic and canon fanboys saying "Don't buy it!" meanwhile we are YEARS later and to be honest for the price range, there isn't a LOT better of options available. The technology has gotten a little better but thats it. The FX1 and Z1 still take beautiful 1080i (1440x1080 @ 1.333 pixel ratio), the same as the day they came out, and they still have better low light capability than pretty much all CMOS sensor cameras.
So what I'm saying is pay less attention to the spec charts and more attention to the image and what you can do with it.
But if the object is to just compete with the Jones' or to spend as much money as possible for a camera to do the same thing you could have done with just about any camera, then go ahead.