Hardware neophyte needs ingest/monitoring advice

I should preface this with the fact that I've been editing on FCP for 3 to 4 years and have an intermediate understanding of the program on in it's own, but know very little about hardware.
So I'm setting up my personal studio and am looking to spend about $1-2k on hardware for the purposes of ingestion and monitoring for color correction. I only plan to digitize SD footage, though I could see myself working on HD projects captured elsewhere.
I thought about a DVCAM deck like a DSR-11, but realized this would only output analog SD. With bang for the buck in mind, I then thought why not get an HDV camera with component video out for around the same price? I'll lose DVCAM support, but will gain the scalibility when it comes to color correcting both SD and HD, and have an "HD" production camera to boot.
Assuming I'm correct in my assumption that any HDV camera with component out should play back FCP's content to a broadcast monitor, would that analog output be limited to HDVs lessor color space? What other factors should I consider?
Forgive my potentially huge hardware ignorance as well as the lengthy post. I'd really appreciate the help as well as any other recommendations you might have. Thanks!
cheers,
adam

thanks for the response shane. i did read the link, maybe not meticulously enough.
i think my confusion stems from the fact that while i understand HDV doesn't work like DV with it's long GOP compression and all that, I was under the impression that true HD was very simmilar to DV, albeit requiring far more bandwith.
if anyone is patient enough, i would love to understand why (not to be read that i disagree with) the idea that "HDV doesn't pass thru a signal like DV does, so that won't work". just so i understand the technology - what does that mean exactly? no picture will show up? the gamma will be off? artifacting won't be accurate? no video sync? all of the above?
anyway, i never said HDV is cheap, or that i think it is/isn't a pro format. side note (not directed towards shane but to these discussions in general): why are so many editors so touchy when HDV is brought up? sure, it may be a pain in the *** to deal with in post, but it's not just wannabee videographers who are picking these things up. the Z1U has been used in recent hollywood blockbusters. the XHA1 looks better than the "true" HD of an HVX200, and Canon's recently released HV10 for under $1k is an HDV camera that you can basically stick in your pocket which has better SD than cameras 5 times it's size and twice the price.
sure, many of HDV's stigmas are warranted, but it's by no means a useless format used by just wealthy hobbiests.
cheers

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