For the price, I haven't been impressed with the HVX footage out there - and I've had less than positive experiences with Panasonic video equipment in the past. The codec might be worth it for archiving sports footage, but for normal narrative or run-and-gun, I find it a strange mix of pixel-shifted SD/HD sensors coupled with a high-bandwidth codec.
A1 footage, on the other hand, runs the gamut from very low-end looking video all the way to clips that compare favorably to anything I've seen out of any camcorder, period.
Most EX1 clips I've seen have a bit of a strange tint to skin tones. The overall color balance I'm looking for just doesn't seem to be there. I might be wrong, though - it might be due to the amount of folks with more money than chops jumping on the EX1 technology bandwagon and quickly posting some questionable results.
I admit - it's a bad time to buy a prosumer camera - but that's life. Thank goodness I was never banking on the Scarlet being out any time soon.