Having recently acquired a sony ex1r (the sony version of the hvx-200), I am pretty much obligated to back HD format.. That said, I've loved the vx1 since the first time I saw one as a kid. The vx1 is the workhorse of the skate industry, and has been since the dawn of the 3ccd era. The colors are great, it's durable, light, and the mk1 fisheye is perfect for capturing skateboarding.
Like it or not though, HD/solidstate card cams are the the future, yes it's way less forgiving on focus, shutter, WB, and everything else associated with the Human controlled aspects of filming.
But, not having to worry about buying tapes every day, glitching, capture time, and all the pain in the ass shit that goes along with DV tapes is awesome. when i'm filming, and the last try isn't a make, i hit one button and it's deleted. And when you learn how to actually set the camera correctly, the colors are fucking amazing.
Either way, both mediums are great for capturing dudes flipping wood around. so.. yeah.