Edit SD, Recapture HDV?

My computer can't handle HDV, but normal DV is smooth as butter. I have a Canon XHA1 and I always shoot HD and downconvert when I import. That way I always have a HD version.

I was wondering if there was a way to edit everything in SD, then recapture all of the footage in HD. Everything already would be edited, transitions applied, VFX, etc, but the footage would be HD instead of SD. That way I could render a HD file out.
 
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