http://www.dv.com/news/news_item.jhtml;jsessionid=LMF0OZHFECZJ4QSNDBCSKHSCJUMEKJVN?Looku pId=/xml/feature/2005/wilt0505&_requestid=241996
The definitive article on the current state of affairs with HDV and the new fx1. He does discuss the fact that HDV doesn't handle motion very well at this point. And it sounds like editing it is still a bit of a kludge.