Bad Playback in HD. I need help PLEASE

Ok here is the situation,
I have been looking all over this site and getting more and more confused. 
I have an Panasonic HMC150.  Just got it today.  I shot some footage in 720x30p.  When I watch it played back on my computer monitor I get a great image. 
BUT when I try to watch it on an NTSC monitor it looks like Poo.  Its shimmering, and has combteeth in it. 
What the heck am I doing wrong....I use log and transfer for my files.  I have the capture preset set to HDV-Pro-Res422.  I have the sequence preset set to Apple ProRes422(LT) 1280x720 30P 48kHz.
I have an AJA IO as video playback.  When I try to convert the video to DVD I get the same bad image.....I have no idea please help.

first,  The hmc150 is avchd, not hdv.  Not sure if this would make any difference.
Now you're downrezzing to playback on an ntsc monitor.  Could be an AJA setting problem.  but try doing a short test.  Export a short clip with current settings.  Bring this into compressor and downconvert to ntsc with the appropriate preset customized so that resizing is set to best in the frame controls panel.  How does this look on your ntsc monitor.
FWIW, I've working with material shot on this camera right now (but 1080 24p) and it looks beautiful on my ntsc monitor thru a blackmagic intensity pro card from within fcp.

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