Ok Drew I need to you to delve into your vaults of knowledge and expand on that a bit please!
I've been wondering recently with HDV if it really matters whether you film in NTSC or PAL (talking 1080i here, but just as valid for 1080p I guess). Isn't it exactly the same resolution with the only difference being 25fps vs 30fps? Can NTSC be captured, edited and outputted as HDV PAL without any major concerns? Try not to overwhelm me with techobabble!!
Since I am technically on holiday I'll give the concise version. HDV 50/60i is 4:2:0 1440x1080. The problem (minus chroma concerns) is adding or subtracting frames for motion. NTSC is 29.97fps and PAL 25fps. So from NTSC to PAL you get choppier motion, and PAL to NTSC you get 4.97 more interpolated frames.
Will you notice either? In high speed action, 25p will have more stuttery motion. 29.97p will have a slightly smoother motion. When you watch your american programs on the tele, they are usually 24fps film upped to 50i. SPorts usually is 59.94 brought down to 50i for PAL land. Can you tell the difference?
And why we are even talking about this is the HVR-V1E/P had problems with 25P but now apparently have been solved with a firmware update. Still some have complained about the issue still being there and the fix having brought other problems. I can't confirm this as I haven't seen the actual clips. I did see the clips with the problems and it was rather bad.