I love the P2 technology.
I've owned an HVX200 since just after it's release at NAB 2006. I shoot a lot of time-lapse, so I was looking for a camera with interval recording mode and a frame-independent codec (such as DVCPROHD). The HVX200 has been a great option.
I started out with 2 4G cards and a 60G P2 Store. At first I was really nervous about the workflow. The design, in theory, allows you to continuously shoot until you have filled up all 68 Gigs by downloading one card as the other fills up and then formatting and repeating the process. Having created many many mini-dv clones in my day, I was hesitant to destroy what I considered my 'master'. Well, I am happy to report that it has so far worked flawlessly. (knocking on wood)
For many time-lapse shoots I am camped next to my HVX for hours and hours, and I usually don't get to download the footage until days later. That means I have to put a lot of trust into my P2 Store, whose only reassurance is a blinking green LED. Every time I format the card I say a little prayer for the footage to survive. So far, so good.
I've recently acquired a Firestore FS-100, and it has also worked like a dream. I've been able to shoot for almost two hours in 1080i60 before downloading the footage. It's a great time saver.
Only once in my experience have the P2's and FCP not played nice together. I was trying to import using FCP from a hard drive where a client had copied the P2 card data. FCP was crashing every time I pressed import in the Log & Transfer window. After some struggle, I was finally able to use HVX4QT to identify the problem files and delete them. You can read the Creative Cow thread here:
forums.creativecow.net/thread/8/995676#995676
Mostly my deliverables are DVDs or web video, sometimes BETASP, so outputting through FCP or Compressor fits well into my workflow. In the rare cases the client needs the footage immediately, I will simply download the P2 footage to a designated hard drive and hand it off after the shoot.
Overall, I would definitely recommend the P2 technology to a friend. The images are beautiful, the card and hardware stability have been perfect, and I am very happy with the results. I love the wide range of capabilities the platform offers, from the 24 to 60p capture rate, variable frame recording, 480/720/1080 output, interval recording, native 24 capture, user presets, and on and on. It gives the user a great deal of versatility. I also enjoy not having to purchase tape stock, and then ingest the footage in real time, saving me time and money (and time equals money, does it not?).
I'm in the habit of backing up all my data onto two separate hard drives for archiving. I'm interested to hear how other people are dealing with this. Is continually creating a copy the only option?