Mike
Stop preaching to the converted
Womble is wonderful!!
The problem with DVD camcorders is that the manufacturers seem to assume the end user has no serious interest in editing the material so solutions like these seem obscure till somebody brings them up as youve done.
The approach of Companies like JVC with thier tapeless Everio line is slightly different. ( Im not sure womble accepts *.mod files as APE2 does). As you know those files are proprietary mpeg2 files.
Regarding Womble: many folk may be perfectly happy with Wombles editing abilities to not miss fancy stuff like ( picture in picture)
My only little point of dissent ( if you like) is that HD/HDV aside, Currently, DV AVI is superior starting material for video footage and I would be wary of not having that if only for archive purposes.
Saying that, I saw the output from the JVC Everio line at the WHFSV/Best of Stuff show and found the footage remarkably clear though I wonder if editing them results in a drop in PQ.
Also ironically, HD/HDV (which is in resolution superior to SD ) is Mpeg .
It is being embraced now ( Camcorders, software and hard ware for editing) and was the buzz word at the recently concluded annual Video Forum in Earls Court.
Even though HD material will get down converted to SD for DVD ( apart from broadcast material) at the current time , It is hoped with the that in future there will be a domestic output format for HDV and people would like to have obtained the best starting material currently possible .
It is also the case that the current HD/HDV editing solutions ideally rely on top spec ( read= expensive) hardware ( dual processors, dual core chips ) which are not in the Womble league.
These comments in no way detract from the merits of your very well thought out write up
Well done

PS: How much do Womble pay you ???

( Promise wont tell a soul)