A friend of mine just asked me that question about insert edits. I'm not too familiar with this camera, so I thought I'd ask here first:
"Do you know if on the xdcam 335 there is a way to play
the disc and record over say tens secs of recorded disc?
We are trying but as soon as we hit record it goes
straight to the end of the 'tape' - so effectively you can't
do an insert edit.
I know we can delete clips - but the clips are longer
than the bits we want to delete."
I don't know how to do it in camera, but on a Mac, using the transfer software, you can choose only the part of the clip you want to transcode for Final Cut usage. This saves you the extra time needed to transcode or unwrap the entire clip and allows you to keep only what you want. I don't know if they've updated the PC version to include this yet.