I shoot with a Panasonic HVX200 and I don't have enough P2 cards, so I'm using mini DV tape. I've been experimenting with the setting on the camera as well as the sequence settings in FCP. I usually export to DVD but also to Quicktime for Youtube and Vimeo.
Would using 480i/30P and the Squeeze setting along with 90% safety on the display on the HVX200 give me an image that would scale to 1289x720HD 16:9?
Scale up? Yes. Look HD? No. Look decent? Maybe. I've used Compressor for this, and it looks OK, but nothing close to looking HD. It looks soft...because you are blowing the image up to 4x it's size. I've actually gotten better results using Premiere Pro and After Effects.