HI, can anyone clear this up for me? It was my understanding you could monitor the dvcproHD signal through the supplied component video cable harness- is this true. Is this a way to monitor the true levels via an external monitor/ vectorscope?
Yes.
The Component outputs can be set to either output HD or downconvert to SD (when in HD mode, SD is SD only).
To view the signal you will need a Scope and or MOnitor with Component inputs, and of course HD ready if you want to do it in HD.