Since I have a Xpress Pro w/Mojo set-up and am waiting for Avid to make good on its promotions to edit native HDV (yeah right) I have been capturing footage from my FX1 with the CAPvhs utility and editing it (slowly) on Combustion 3.

My question is, when I import the HDV files into combustion it displays them with a square pixel aspect ratio. This obviously squeezes the footage and it looks like a 4:3 picture. When I change the pixel aspect ratio set-up to NTSC Anamorphic Widescreen the pixel aspect ratio changes to 1.2 and the footage looks faily normal. What is the accurate pixel aspect ratio for HDV? 1.2? 1.33? Also, I don't seem to have the mpeg 2 codec for HDV, what is the best wasy to render out my projects from combustion? HD Divx? Quicktime? WMV HD? and if so where can I get this WMV HD codec?

Thanks upfront for any answers to my questions

The pixel aspect ration of hdv files is 1.333333. The reason that's true is that there are 1440 pixels by 1080 in hdv. You are trying to fill the space of 1920x1080. 1440 x 1.3333333333 = 1920.
Once you set your pixel aspect ratio correctly for the project you can select window(menu)>Use Aspect Ratio.
Good luck!
Sam