Shane is right - it's rather crap, but it does embed it's fake 24p in 3:2 pulldown, which if you convert the HDV to an I-Frame codec, say AIC, Uncompressed, or PhotoJPEG, you can use cinema tools to remove the pulldown.
However, this will take ages and it will still look poor.
I'd advise reading: [
www.studiodaily.com]
I helped Frederic develop his workflow, and it looks superb. We used some filters from Film Effects to help get the look, and to do the de-interlacing.
Graeme
[
www.nattress.com] - Plugins for FCP-X