DV Rack doesn't change the recording format (codec), it simply wraps the data in the container format of your choice (AVI or QT). If your system has a DVCProHD codec (like Macs with FCP or PCs with Edius), then you can simply import / drag the file into your project and you're done.
If your system does NOT have a DVCProHD codec, then you can use the DVCProHD Decoder included with DV Rack 2.0 HD. This is a decode-only codec which allows any DirectShow-compliant program to decode the DVCProHD video. Using the decoder you can open, edit, transcode etc., but you cannot output a new DVCProHD-encoded video.
If your system does NOT have a DVCProHD codec, then you can use the DVCProHD Decoder included with DV Rack 2.0 HD. This is a decode-only codec which allows any DirectShow-compliant program to decode the DVCProHD video. Using the decoder you can open, edit, transcode etc., but you cannot output a new DVCProHD-encoded video.