Varicam runs at 1280 by 720 (16 x 9 not on illustration) and panasonic pro hd and sony hd run at 1920 by 1080 - though Sony HD is actually 1440 x 1080 interpolated up to 1920 x 1080.
 
The New HDV format is also 1440 x 1080 but is recorded in Mpeg format which introduces many motion artefacts.
 
The point of this is to show that all standards in digital video are now measured in pixels - 1080 lines, or 720 lines means the line height is the same as pixel height - in other words the vertical resolution of the picture. I've seen both 1080 and 720 projected and 720 can look absolutely fine (actually I've seen the screening of a pal originated short on a very fine projector sand this was line free !). I've also transferred Sony 1080, Panasonic 720 and Pal digibeta uprezzed to HD onto 35mm - the digibeta looks surprisingly good in comparison as it has a greater colour depth overall than either format in comparison.
 
The colour rendition of the panasonic varicam is better than the Sony regardless of pixel ratio. The 4:2:2 reference is black and white followed by colour bit depth, Sony HD is 3:1:1 and the panasonic HD Camera is 4:2:2, Panasonic Varicam is 2:1:1. The Viper fimstream and Sony SR recording (ONLY you use an american 950) are 4:4:4.
 
Even with all the above you have to work to make this stuff look like film. If you do obvious video things - then it'll look video. You have to be careful around windows as video burn outs look awful in relation to the way film handles it.
 
Go to this address for a quick answer to your question about the use of STANDARD DEFINITION LENSES USED WITH HIGH DEFINITION CAMERAS With thanks to Mike Brennan DoP for this information.
 
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Please e-mail me if you understand this differently - I want to learn ! If you squeeze some putty it comes through your fingers - if you get good colour you lose resolution or speed etc etc....