The project I'm currently working on was shot in HDV. Prior to my arrival on the project some of the footage was captured in DV. I recently had to re-digitize that footage in HDV. However, when the editor went to replace one of the clips, she tried to match the new HDV footage to the old DV footage only to find out that when she matched the time code of one clip to the other, they were off by a certain amount of frames. So when she put the playhead at the same time code position on both clips, they were on different frames. The weird thing (and good news) is that it only happened for one of the many clips. I haven't been able to find an answer yet and I was hoping I might find one here. Please let me know if you need any more info on the specs.
Recapturing HDV, or doing an offline/online with HDV, works some of the time, but is it really something you'd want to gamble your career or reputation on? Why some people do simply mystifies me.
Matt, I understand your situation is not your doing or your fault, but of course, you're the one forced to pay the price. Hopefully you have an edit that you can eyeball match to, because often that's the only solution available.