No it's not the same, it means that you can pull a full HD 1920x1080 signal from the HDMI output. One of the biggest gripes from Canon users is the fact that the HDMI out is not a full res output. What this means for the D4 is that you can buy an additional capture device like the Atomos ninja and then capture full HD footage with full colour space (better for colour grading). However this is is not the same as RAW, the only cameras that can capture in RAW are RED, Arri Alexa and I think a camera called Weisscam, raw allows even more latitude when colour grading or composting.
I played with a prototype and we connected it to a Ninja. It's 8 bit 422 1080p24 or 29.97 but HDMI is 1080i so it's really PsF, which is very nice, I haven't downloaded it since I'm behind on stuff but will do so on the weekend. Will also have to check if I'm allowed to post publicly yet. Skin tones are very nice like the 5D2 but a bit more Nikon saturation. I'd like a Marvell or Cinestyle pic profile to play with (or even LUT) but hey that's just being nit picky.
Nikon has done a fantastic job with the video side, which is surprising but they needed this badly lest they disappear from the DSLR market. This video on the cards is a little soft but it still puts big pressure on Canon to go with clean HDMI signal. The stills side specs are 2mp and 2fps less against the 1Dx for minor noise performance (I suspect the noise reduction engine in video will give a nice stop advantage) is more about needs than "better" or "worse." I suspect the D4 will get into the cinematography market more. I'm still no convinced about telephoto though since the teles from Nikon focus breathe significantly more than Canon equivalents. My experience with the 70-200 2.8s was pretty surprising. Minor or insignificant quibble for most though.
Jonny, don't forget the little Ikonoskop, the real uncompressed RAW output. It's too bad the sensor is noisy and the specs dropped to 30fps.