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Is this what the "TV Safe Zone" is all about?
Most camcorders do "overscan" and actually capture a bit more than you see in the viewfinder or on the LCD. Because of this, some info on the edges (left, right, top, bottom) will not be displayed when played back. This also depends to some degree on what device you playing back on and what format too.
The TV safe zone is exactly that, what you would expect to be visible when burnt to disc and played on a home entertainment system. The "TV Safe Zone" in PD is usually a conservative guage for titles, PIP tracks and so on. In general I've seen that it is always a conservative estimate. I once put items in the 4 corners so I could map out the safe zone manually and found that the TV safe zone was a conservative, 10-15%. However, I also found a difference in safe zone when the same DVD was played on 2 different LCD TV's and 2 different Tube (CRT) TV's so good that it is conservative and one should not just map the exact edge for one device and expect other viewers "see" the same.
Jeff