The Canon HV20 is a really amazing camera. It gives a great final image, but has a lot of workarounds to attain that great image. It's a 1 chip cmos that is 1920x1080 and I believe it's said to be as sharp as the Hvx200 and Canon XHa1. You will lose all the comfort of the easily access manual functions though.
In the end, the HV20 is still a consumer camera but can pretty much give you a prosumer image in the end. It has rolling shutter and wobble problems as well. Its kinda of crazy to compare an HVX200 to a consumer HV20 because the HVx200 blows the hv20 away in matters of professional control, but just comparing the final images you can make a very valid defense of the hv20's sharp image standing up to the hvx200 if not surpassing it in sharpness.
If you take a look at HV20.com or in the canon camera section here at dvxuser then you can find a bunch of video shots of the hv20.
I have an HV20 and love it for what it is and at the price point I got it for, but I actually want to upgrade to a HVX200. Wanna trade?