If the HDCam comparison you are looking for is the FDW-900 series, then with the latest models you can actually output 4:4:4 to disk with no compression. To HDCamSR you get 4:2:2 with slight compression.
Look on the camera specific forums for more info.
fire*, smoke*, photoshopCS2
Charlotte Public Television
I think the original poster was trying to compare Panasonic Varicam with HDCam (Not with HDV), which is a fair comparison. HDV is not considered to be a flavor of HDcam.It may be a flavor of HD even though HDV is not a true HD format and suffers from the issues that you correctly stated. HDcam on the other hand is true HD and is a seperate format from HDV. Thus comparing Varicam HD and HDcam is more like comparing red apples to green apples. Also there are only two type of HDcam: HDcam and HDcam SR, both of which are true HD. HDcam SR is a 4:4:4 Cinema format used in features, HDcam is an HDTV ready format with true HD compression. Hope this helps.