DV vs HD

Windows Vista 64
PPro CS3
is it a good idea to record HD video, do all editing in HD
and then transfer the file into a DV AVI
for Internet I know its good to have it in HD, but our satellite channels plays only DV AVI.
so do you think its good idea to record everything in HD , do editing in HD and convert final output back to DV AVI
I must have the final output in standard definition !
Thanks !!

HD                VIDEO RECORDING
Recording media
2x SDHC memory card                Class 6
Video recording
Video codec: MPEG2                Long GOP
File format: Quick                time format for Final Cut Pro/ISO base media file format
Recording mode
60 Hz setting: HQ mode:1920 x                1080/59.94i, 29.97p, 23.98p,
1440 x 1080/59.94i,                1280 x 720/59.94p, 29.97p, 23.98p
SP mode: 1440 x                1080/59.94i, 1280 x 720/59.94p, 29.97p, 23.98p
50Hz setting: HQ mode:1920 x                1080/50i, 25p
1440 x 1080/50i,                1280 x 720/50p, 25p
SP mode: 1440 x                1080/50i, 1280 x 720/50p, 25p
The JVC Pro HD U110
sorry not Panasonic.
well, this is what I have for Camera JVC Pro HD U110
I guess the reason I was shooting in 4:3 was because of the headroom, it gives more headroom , if I am not wrong.
so, what settings would you recommend to shoot , to get a better quality .
and as far as the station playing what kind of format , to be honest all they say "send us in Windows AVI , .MOV or MPEG
and the station is not HD
Galaxy 25 ku.

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