No Dan and no Mark...
I do use the Sony HDV tapes, in fact they are the only tapes that have been in the camera...ever... and is well broken in by now as yes i do shoot video underwater on pretty much a daily basis....
When you stop record it goes into Stby.
After 5 mins in stby mode if you do not mess with it the stby symbol then disappears... that is what i call sleep mode, not stby mode....
With the Z when you then hit record it takes a few seconds to start up again....the Z is rather slow for that compared to other cameras i have found.... it is in that situation that you get the slight pause on the playback... however tis easy to avoid this... keep your camera in stby, don't go into sleep....
Dan, i suggest you get your Z and put it on the desk beside you... put it in Camera mode and leave it for 5 mins till the stby icon disappears... then hit record.. watch the timecode and let me know what it does....
See if it rolls a sec or two just like mine... would be interested to know if its a camera glitch