It doesn't have a still photo function. If your NLE can take stills, you'll get pretty decent results because of the progressive image and (depending on your recording mode) high resolution.
The other night I did some practice shots with DV Rack 2.0 HD.
(after having applied the patch that permitted me to use it with 4 gigs of ram).
I tried the frame grab function . . .
Later when looking at the grabs to my wife we were both, literally, blown away.
I would guess you can get the same thing from most, if not any, NLE's but I have not tested that.
Blown away, Really!
Took this a couple days ago. It was shot after the sun had set so I had to raise the gamma in post, creating a bit of noise, but all in all, a nice shot with the HVX200.