From the specs the panasonic would poop over any hdtv standard I have heard of.
hdtv is (I think) a 20mbit stream.
The panasonic will record at up to 100mbit (to p2 cards not tape). More bits - better picture.
The quality of the pic on a hdtv will however show you what hdv is capable of.
If you are really considoring purchasing this camera do remember it only records to tape in sd dv not hdv. You need the cards or a dockable drive to record hdv and both are very expensive.
In general I posted a comparative test of hdv cameras that may be usefull to you.
edit
Here is the article
http://www.videoforums.co.uk/viewtopic.php?t=8300
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I have two prejudices - I am anti HDV for consumer camcorders, and I eat mooks who claim to be pro wedding vidders and ask dumb questions.
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JVC DV5001e (big cam), Sony PC6E (tiny cam), Vinten pro5, PAG light, SM58, Sony ECM50, Sony C-76, 0.5x convertors for sony, Rode video mic, Vegas 7.