Rick makes some very good points… lets explore a bit more.

1) Who says "you cannot burn HD video on a DVD "?
You can burn high definition video data files to a regular single layer or double layer DVD. These cannot be played back in a regular DVD player, but can be played back on a computer capable of handling high definition video playback or a Blu Ray player (or PS3).

A regular DVD is just an optical disc. A Blu Ray disc is also an Optical disc – and there are several Blu Ray disc burner manufacturers. I like the BluRay burner from LaCie. Of course, as a Blu Ray disc, it does need to be played back in a Blu Ray Player or PS3 – and for high definition, that Blu Ray player (or PS3) needs to be connected to a HDTV.

2) Why is DVD the only choice? You can render the high definition file out as a computer readable file – and use a "media center" device – like an Apple TV for storage and playback. Or another computer like a Laptop or whatever connected to the HDTV. Or a Network Attached Storage (NAS) hard drive array.

3) When I finish a video project edit job, I export the video back out to the camcorder. Since I captured in high definition and edit in high definition, when I send the video back to the camcorder, it is high definition video. As far as I know, this export process can be done only with miniDV tape based DV/HDV camcorders (not consumer hard disc drive, flash memory or DVD based camcorders). Then I can use the HDV camcorder connected with component + audio cables or HDMI to a HDTV. It looks awesome.

4) Why does the storage and playback need to be local? Standard definition video is 480 horizontal lines of resolution. High definition is anything higher than that – with consumer camcorders, that is generally 720 or 1080. I render the high definition video out as a computer readable 720p h.264/AVC file and upload to vimeo.com or YouTube and it looks WAY better than the other standard def (or less) video out there… And I can watch that on my computer. No HDTV, Blu Ray, DVD or media center required.

5) I can render that file out to a MP4 or AVI for portable media player playback like an iPod Touch or iPhone, Zune HD, Archos or other portable/personal device…

And because I use miniDV tape, in 5-15 years or more, if I want to use that tape, I know that video will be available because the archive shelf life for digital tape is that good. I have already used video captured 5 years ago in a recent project – from the original tapes and it looks as good today as it did when I first captured it.

So… why use a HD camcorder today? Because when you start with the best available quality, the downstream process is yours to control. When you start with low quality video, that is the best it will ever be.

You may try this AVS Video Editor which has many great functions. The features in the official site are below:
1. Direct Transfer to iPod, PSP, Mobiles and Other Portable Players
2. Supports Virtually ALL Video Formats
3. Burn Movie DVDs
4. Capture and Edit Video from External Devices
5. Edit Video and Enhance Your Movies
6. Create Slide Shows
7. Make Perfect Audio for Your Video Editing Tasks
8. Scene Detection
9. Convenient Video Editing Tools and Interface

There is the free download link:
http://www.freedvdripper.org/dvdvideoconverter/avs-video-editor.html
Also, you can use Photoshop which may be difficult for us:
http://www.adobe.com