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Panasonic has now done the same with high definition.
The HVX200 is unique in that, when recording high definition, it employs what are called P2 cards, which are solid state metal cards about the size of a credit card with storage sizes ranging from 2 gigbytes to 8 gigabytes. These cards don't have actual hard drives, but use RAM-like storage to keep the video files stored until erased. When using these cards, there are no moving parts... no sound from the camera as the tape mechanism turns the tape while it is recording. It's virtually silent.
The camera also allows you to record in standard defintion the old fashioned way, on miniDV tape. Another option is that you could shoot on high definition and "down convert" your pristine high def video into the standard definition format, which ends up looking superior than the normal standard definition video quality.
In order to record in high defintion, you need about a gigabyte per minute of storage, so, with the 8 GB P2 card, you can record 8 minutes of high definition video. This is in line with shooting on film because film cannisters on movie cameras have about 8 - 10 minutes of film in them. Eight minutes of high defintion video doesn't seem like a lot, but its only a start. The storage capabilities of the P2 technology will continue to grow... the more space, the more footage you'll be able to store on each card.
The camera comes with two P2 slots, so you can swap out cards as they fill up while you're recording. If you have more than two cards, you could just plop in another one and keep recording. If you don't have more than two cards, when one fills up you could unload the video content on the P2 card to a hard drive on location and then reuse the P2 card. Another cool feature is that you can pre-record record for up to 8 minutes in high definition. What does this mean?
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That's just one of the little advantages that a tapeless video acquisition world will allow. As it becomes more standard, a variety of options will be available when recording video that would never have been a possibility in a linear, tape recording world.
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Now, you'll excuse me, as I have to change my shirt... I've been drooling on it since seeing the HVX200 footage.