If you are doing home movie hobbies, then HDV is great.
If your end result is broadcast or stock library, then I say DO NOT go with an HDV camera.
Although they have been used for broadcast and such so far, the future doesn't look brite.
This debate could go on for years, but...
I actually had a buddy get footage kicked back from CBS that was shot on his FX1. The reason given is that it was 4:2:0
colorspace and the broadcast standard for CBS is usually 4:2:2.
Many Standard Definition shows get away with shooting miniDV & HDV and getting it broadcast, you will see as High Definition ramps up more, networks will be more strict on the footage quality.
HDV does not even compare to the professional cameras such as the Sony F950, XDCAM or Panasonic's Varicam and you can clearly see a differance in PRICE and image.
Panasonics HVX200 was the first "Prosumer" HD camera to output 4:2:2 and is a wonderful camera, but panasonic decided to proprietorize the "P2" and it came out very costly and has since finally come down a little, but is now consider an "old" format, due to the new Xpress PCMCIA cards coming out. A good example of this is the smaller slot on the sides of new DELL and Macbooks.
Which brings us to our next one
Sony's XDCAM EX Model which is not quite clear if it's going to be 4:2:2 or 4:2:0 yet. I would bet that it's 4:2:2.
It will be out this Fall at around 8,000 US and I know Amphibico is working on a housing for it and others probably are as well.
Now if you just want to have not doubts then get the
RED camera and shoot whatever format you want like I probably will. Gates is the only one that I heard of so far with housing plans, but I'm sure Amphibico will add it to the Amphibicam line as well.
hope this helps.