Yes, the intensity card capture the footage that you record straight from the sensor to a computer. That way, it avoids getting compressed to become HDV. It is perfect with your Mac book Pro, YOu get superior quality (4x and 4:2:2 colorspace), instant edit (no need to download) plus you don't have to buy tape anymore, ever.
If it still under warranty, i would definitely return the camera and jsut tell them the firewire was DOA. I am looking to get the hv20 myself