Ok, here is the latest...
The camera is fully working. I can shoot HD, and after reinstalling the HID's thru the Device Manager, PD can see my HV30 as HDV device.
Now, it pretends to capture by giving me an empty file, AVCHD no less!
I am shooting MPEG HD, so I am at a loss.
Additionally, HDV Split does not function in Windows 7.
HDV Split works on my wife's XP computer, and that is how I determined that my camera's i-link is apparently working.

Updates as they occur. Now looking for HDV capture freeware for W7!
HP Envy Phoenix/4thGen i7-4770(4@3.4GHz~turbo>3.9)
Nvidia GTX 960(4GB)/16GB DDR3/
Canon Vixia HV30/HF-M40/HF-M41/HF-G20/Olympus E-PL5.
Tape capture using 6 VCR, TBC-1000, Elite BVP4+, Sony D8 camcorder with TBC.
https://www.facebook.com/BarryAFTT

OK, now this...
as with PD8, now Mediashow5 has failed to capture.
Both programs run the camera just fine.
But PD gives me a ghost file AVCHD, and MS gives me a ghost file of MPEG2.
In addition, there is no preview on my W7 computer in MS5.
I guess I'll just use my wife's computer for HV30 capture, sigh.

EDIT!
Mediashow 5 captures the video in HD, using Windows XP.
I don't mind using 2 or 3 programs, but I DO MIND using 2 computers. OY! HP Envy Phoenix/4thGen i7-4770(4@3.4GHz~turbo>3.9)
Nvidia GTX 960(4GB)/16GB DDR3/
Canon Vixia HV30/HF-M40/HF-M41/HF-G20/Olympus E-PL5.
Tape capture using 6 VCR, TBC-1000, Elite BVP4+, Sony D8 camcorder with TBC.
https://www.facebook.com/BarryAFTT

Great News!!!!! After Cyberlink and HDVSplit weren't allowing my HV 30 to capture in HD, I downloaded Pinnacle Studio 14 Trial. It also failed. I Googled help with Pinn Stud 14 and HV 30. Found the following post that cured my problem.

Forum:
http://social.answers.microsoft.com/Forums/en-US/w7pictures/thread/48bca32e-011b-4025-a119-539bad52c389

"I found that using the JMicron 1394 firewire driver finally worked on my HP Windows 7 64 bit laptop worked. Here is the link to the driver. http://h10025.www1.hp.com/ewfrf/wc/genericSoftwareDownloadIndex?cc=us&dlc=en&lc=en&softwareitem=ob-74849-1&jumpid=reg_R1002_USEN"

I can now capture HV30 HD on all three softwares. Finally my current frustration is over and I can pass on some great news to the forum.

I actually found this info, too. I forget exactly where, but I phoned and emailed both Canon and HP to tell them. I was especially peeved at HP, as they had the driver, and someone should have known. I also posted this on Creative Cow. I think I this posted somewhere else on this forum, also. HP Envy Phoenix/4thGen i7-4770(4@3.4GHz~turbo>3.9)
Nvidia GTX 960(4GB)/16GB DDR3/
Canon Vixia HV30/HF-M40/HF-M41/HF-G20/Olympus E-PL5.
Tape capture using 6 VCR, TBC-1000, Elite BVP4+, Sony D8 camcorder with TBC.
https://www.facebook.com/BarryAFTT

Hello to everyone. First post here. I am actually a long time Pinnacle S14UC user, and post regulary on the pinnacle forum. I don't have PD (yet).

I am just surfing forums, to check out other software. Its unclear if Pinnacle will have a future version or update to S14.

I am a part time videographer. I mainly do weddings, parties and some promo videos for companies. My output is 75% SD and 25% AVCHD (on DVD-R or DVD+R DL) For personal use its 100% AVCHD. I use a lot of photos in my projects also.

I am posting here, because I have a Canon HV30 and am vary familar with many of the issues you mention here. maybe I can shed some light.

* The Canon HV (20-30-40) tape series are great HD camcorders, but are a last of the bread. Many believe their quality to be the best of all consumer camcorders.
* There is a known problem with Firewire and Windows 7. Its not related to any specific camcorder, or software. Its a firewire driver issue with W7. Once you get that resolved, you are fine. I have Windows XP, with no problems.
* The resolution of all canon HV tape units are 1440x1080. Always record in the HDV, interlaced, settings.
* In PD, it would be best to use the same project setting, as your HV, which is 1440x1080i.
* When recordong with your HV40, set it to 30i or 60i, and you will get better overall quality. Not many people actually use the 24P setting, or cinemode.
* When you output your project in PD, you can output to either SD or HD (AVCHD or bluray).

Hope this helps.
Randy Self Built PC - W7 Pro 64 bit w/ SP1
ASROCK 970 Extreme 3 / AMD Black X4 3.2 / ATI 6850 1 gb /
8 gb DDR3-1600 / 1394 Firewire / LG SATA-2 Bluray Burner /
Internal Drives: SATA 3 7200rpm = 1.0-tb, 640 gb, 300 gb /
Pana TM90 / Canon HV30 / Sony HC 7 / Canon M40
Epson 810 DVD-CD printer.