Hi Rick,
I believe Cyberlink's PowerDirector has supported many HD formats for a few years. ACVHD is one of the newest HD formats and Cyberlink added support for this in 2007. What format does your camera use?
For HD output, there are (were) two competing standards: Blu-ray and HD-DVD. I believe HD-DVD is dying a quick death in 2008.
If you go with Blu-ray, you will need a Blu-ray burner on your PC, blank Blu-ray DVD media, and a Blu-ray player connected to an HDTV.
Blu-ray disks will not play in standard DVD players.
Hope this is helpful.
Brady