All this discussion about HD video & compatibility got me motivated to review some research I've been collecting. To start with, I want to quote the industry trade magazine, Digital Content Producer.
"In essence, DVCPRO HD uses the same compression technology as DV at data rates of up to 100Mbps, according to the same white paper. In contrast, according to Sony’s white paper, XDCAM HD uses long-GOP MPEG-2 at up to 35Mbps. (In February, Sony announced a new implementation of XDCAM HD, which employs 4:2:2 long-GOP MPEG-2 at 50Mbps. This technology makes its debut in the PDW-700 camcorder, available this month.)
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Panasonic proponents argue that long-GOP formats can’t deliver the quality of their DCT-based algorithm, and are much less responsive during editing. Shooters drinking the Sony Kool-Aid argue that long-GOP MPEG-2 is so much more efficient than I-frame-only DCT that it delivers the same or better quality at one-third the data rate, and that today’s multicore computers are easily sufficiently powerful to work edit responsively with MPEG-2 (and if you need more speed, use an intermediate format). They also criticize DVCPRO HD for requiring three times the storage space, which is a particular issue for camcorders capturing to solid-state memory.
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Who’s right? I dunno; the video produced by both camcorders looks wonderful to me. The point of this newsletter is to define the terms and identify talking points, not pick a winner."
And I have another quote from a Sony/Apple press release.
"PARK RIDGE, N.J., June 27, 2006 – Sony Electronics is introducing new transfer software for use with the Macintosh® OS X version 10.4 “Tiger†that provides native interoperability between Sony’s XDCAM® HD Professional Disc™ system and Apple’s Final Cut Pro® nonlinear editing software.
           The software will be available free of charge online from http://www.sony.com/xdcamhd . . . "
And here's one last quote,   “I am a long-time Final Cut user and now I’m a big fan of Sony’s XDCAM HD cameras,†said Jody Eldred, a director/DP and Emmy-winning cameraman for ABC News whose credits include CBS television shows “JAG†and “NCIS.†“They’re a great match. The ability to plug an XDCAM camera directly into my MacBook Pro’s FireWire® port and start editing immediately in HD using Final Cut Pro-- no matter where I am in the world-- is really astounding and is going to be a huge benefit to my work.â€
And although the news release was a bit aged, I did find an article comparing a PDW to a PMW camcorder and here's what they said.
"When it came time to match footage shot with each camera, Eldred and his crew were unable to distinguish one from the other.
“It was simple to color match the cameras from the get go, so the footage cut together well – very seamless,†he said. “If I wasn't looking at the timeline in the Final Cut Pro edit to figure out which camera was which, there's not any way that I would know. In terms of sharpness and contrast, it's amazing how well the two looked side by side.â€"
So there you have it. XDCAM's work fine with Final Cut Pro. And I still haven't seen any hard data to say whether the XDCAM HD or DVCPRO HD codecs produce better videos.  But the HVX200 uses the P2 memory cards at an incredible rate. B & H has a 16 gig and a 32 gig card for $850 and $1550 respectively. And the best quality HD video fills the 32 gig card with only 32 minutes of video. So it runs over $3000 to record just over an hour.
So good luck with your decision.