Imovie re-encodes HDV into AIC codec as it digitizes, which is why it is less than real time on slower systems, because it has to stop, buffer and encode continuously. FCP 5 will digitize and edit HDV natively. Which means it comes in raw, you cut it raw, and output it raw, no recompression steps. Since it's recorded on minidv tape at the same speed as DV (3.6 mbps) any system than can handle digitizing DV will handle digitizing HDV in real time no problem. What is unknown is what kind of system you need to edit HDV natively. At NAB, the FCP timeline seemed very speedy and responsive, but they had it running on dual gig 2.5 ghz machines.