720p (which is the proper name for this resolution) IS a valid HD resolution, it's just one that isn't being adopted by anyone.
It is however, better than 480p, which is what the Panasonic dvx100 does. The Panasonic still has the advantage as far as I'm concerned, however, since it records in standard DV format, making editing easier. When we have more details about the JVC system, this apparent advantage may disappear.
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