HD color correction on SD monitor and colorspace issues
 

Currently I color correct SD DV on a JVC TM-H150 CRT from within Premiere Pro CS3. I recently upgraded my graphics card to a ATI Radeon HD2600. This card has dual DVI as well as s-video and comp. outs. In an HDV project, I am able to send the Premiere program window out through the graphics card via s-video to the same JVC monitor. My goal is to use the monitor to color correct HD video if at all possible. For my purposes, color accuracy is more important than seeing full HD resolution. My questions are regarding colorspace. I know that when using cards like blackmagic or a box like the MXO the HD 709 colorspace is converted to 601 colorspace when downconverting to SD. My question is: when using a graphics card like the one I am using to downconvert the HD signal, is the colorspace being changed to 601, or am I seeing the original 709 from within my project? I guess I am confused as to what the graphics card is doing during conversion. I need to know what colorspace I am seeing on the monitor.

Did I stump the forum?