Apple Pro Res 422 (HQ)?
 

I'm trying out a Panasonic AJ-HPX3000 camcorder for the moment. This is an insane (in a good meaning) camera, which I'm very happy to work with!
I do the recording in 108025p, avc-intra 100.
Everything works very well, no probs. transfering the P2-files to external disk and then do a log and transfer into FCP (running QuickTime v 7.4.5 and FCP 6.0.3). Had to download appropriate avc-intra software decoder for mac from the Panasonic website though!
My question will be what compressor encoding should I choose, Apple Pro Res 422 or Apple Pro Res 422 HQ?
It seems that when I do the log and transfer, files are imported as Apple Pro Res 422. Will there be any advantage to set the timeline to HQ?

I'm working on a Mac Pro, OSX v 10.5.3, 2x3.2GHz Quad-Core Intel Zeon, 8GB of RAM, and a Raid-0 1.5TB disk. So I think and hope that the resources is more than enough to run in the highest possible quality.

You've got more than enough resources to cut HQ - it will greatly lengthen your render times and storage requirements though if doing a lot of grading/additional effects rendering in Final Cut - at which point you may wish you had used regular ProRes if you are on a tight deadline.