The basic thing is, if you've got a good native editing support in your NLE, you don't need this. If you're low end, then you're going back to HDV tape, and at that point there's guaranteed damage to your video quality, which is unavoidable. Editing uncompressed or using an intermediate won't help you here.
Editing uncompressed doesn't help you at all unless you're on such a low power machine that native editing is a pain. If you're on such a low power machine, just rendering HD will be painful.
Finally bumping your timeline to uncompressed is of benefit as it then avoids a render back to the very lossly MPEG2 HDV codec, and then you're free to output, at best quality to whichever HD mastering format you want - D5, HDCAM SR etc. At that point an intermediate codec that is compressed is not much good as you've certainly go enough fast hard disc space if you have access to one of those high end mastering decks.
Graeme
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http://www.nattress.com - Film Effects and Standards Conversion for FCP
