Anthony
Burokas has an
informative article on the true quality or the lack of with HD camera's such
as the recently released JVC and Sony HD prosumer camera's. Instead of talking in resolution lines and color space, the standard used to describe the quality is camera mega-pixels like how it is used on your camera's. The news is not very good. The only format that seems acceptable is DVCProHD. HDV is found to be very lacking and as Anthony states "Sony's FX1 will likely become as "venerable" a camcorder as the VX1000
has, and help to usher in HDV in as the new recording format of choice,
just as the VX1000 established DV."
However, some reviews of HDV camera's have been very positive with the actual images being impressive especially when compared to DV. And with the headstart that HDV has over DVCProHD in the prosumer HD world, I am not sure it is going to fade so quickly. 
