My Sony FX1 HDV camera records audio in MPEG 1 layer 2 at 384 kbps.
see also: http://en.wikipedia.org/wiki/HDV
I would not lump all DV and HDV cameras together. I previously owned
several Sony DV cameras and the sound quality on the FX1 HDV camera is
definitely better, even though DV audio is uncompressed at
16bits/48kHz. The mic preamp in the Sony TRV900 and VX2000 was not
great. To me, the audio on the FX1 is clearly a step up.
It's hard to argue against linear PCM if you want the best possible
quality, but I believe some compressed formats, including
later-generation ATRAC (MiniDisc) and HDV audio really can be adequate
for many purposes. The recording location, the mic, and the preamp
make a difference most people can hear. I believe that MiniDisc or HDV
or linear PCM encoding make a difference many, or perhaps most people
don't hear.
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