Based in this context, in the consumer video market, it may be fair to say that miniDV, as compared to other HDD based video cameras yield a better recording quality in the standard definition domain.
In layman's term, miniDV's quality is compressed to 5x lower than the quality of an uncompressed standard definition video image, with no motion compression and the compression affect only the individual frames (intraframe compression).
Most HDD based cameras record standard definition video using MPEG2 compression with a much higher compression ratio, and it is a interframe compression.
Recording medium aside, you need to understand some of the technical aspects of video technology. If you say recording to tape yields a better video quality over HDD, you need to be asking what video format is it recorded in.
Taking an example from the photography analogy, if you take a photo of say 800x600 using a RAW uncompressed format, will it be better than say capturing it at 800x600 with the lowest JPEG compression? Will it matter if you put this file into a CF card or SD card or even copy it to a HDD for storage?
I was told that mini-DVs produce the highest quality videos, followed by hard-disk and the worst of the lot is memory card. Is that true?
To further clarify this statement, it can be true, and yet wrong.
Tape based miniDVs don't produce the highest quality video. There are better tape recording formats for standard definition like Sony's Digital Betacam.
HDD or memory card based video recording doesn't necessarily produce the worse video quality, there are high video quality recording options for Panasonic's P2 card (PCMCIA) that can be based on DVCPro50 recording resolution which is technically better than miniDV's quality. There are also HDD based cameras from Ikegami that records almost uncompressed video images.
Hope this clarifies your doubts.
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