Sorry for the cross-post... I posted the following in the Adobe Premiere Pro forum but now I'm not sure it belongs there;
I anticipate a move to Beijing this fall for at least 6 months to a year, which is complicating a decision on the purchase of a new camera. I'm basically set on the Sony PMW-EX1 because of its features and price point but I'm debating the formats. I expect to come back in a year or two, so I still want to be able to shoot NTSC when I return. I read a few threads here which indicated NTSC to PAL conversion is fairly easy with Canopus' Procoder.
You can only shoot in HD with the EX cameras, so you have the selection capability to select from 60i (30p and associated rates) NTSC 'area' such as USA, Canada etc or the 50i (25p rate) PAL 'area' such as Europe, Australia and other parts of the world and an obscure 24p, the film like rate. PAL & NTSC are standard definition formats.
Strictly speaking, the camera does not record in PAL or NTSC, as is is strictly an HD camera although there are less than useful SD composite & s-video outputs, which in my opinion should never be used for serious recordings.
The worldwide capability aspect is another wonderful bang for bucks feature of the EX camera. You are set wherever you may be in the world.