No, not at all.
Think baseband.
Mmmmmm are we talking about the same thing? I found this spec for HD video it shows mpeg2 as the compression method.http://www.hdv-info.org/HDVSpecifications.pdf
Mark
EDIT - Found two competing systems HDV and AVCHD the spec for which is here http://www.avchd-info.org/format/index.html
M