From Creative Cow-

One of the features that snuck into the new edition of Final Cut Studio is that you can now capture HDV directly to ProRes over FireWire! There are a couple of issues you’ll want to consider, but Chris Poisson, a Cow member since 2001, takes you step by step through a process that can make a big difference to the way you edit HDV in Final Cut Pro from now on.

Read the tutorial here.