I do not personally own the HVX200, but I have used it on a shoot before and was very impressed by the results it produced. However, the more footage I see from the XLH1, the more and more impressed I am by its capabilities. Even though HDV is inferior to DVCPROHD, in many cases, the XLH1 produces a better looking picture (opinion). Though I currently own an XL2, I am by no means biased - I would love to have a tapeless 4:2:2 camera, but unless P2 drops in price significantly (which won't happen any time soon), I may just wait for the XLH body-only kits to come out so I can hook my LetusXL Enhanced to it.