Available in both - the PAL model is AG-HVG-202-EN - using the extrenal FS-100 instead of multiple expensive P2 cards is also viable.
The camera can also do good variable speed shots, using its on-board frame store. Note that the frame though true HD is 1440*1080 (and no, I do not know how Panasonic get the 16:9 ratio out of that but it does and broadcasters such as the BBC are happy with DVCproHD).
And the camera is bigger than it looks in the brochure!
I had a note from the techie guys at Beeb to say P2 is definately the way forward - it give instant access to any video clip - no rolling through endless tape looking for the right shot.