Make sure the cam is in HDV mode (of course).
From the top menu choices click on Options and select Preferences
Click on the VIDEO TAB
Make sure the Use External Video Capturing application is NOT checked
You can't capture HDV in that module, only DV

There are a few ways to get to the HDV capture screen
File | Capture Video .. This brings up the capturing screen (bottom of working space)
Click on the "Prefs" Icon (left side above capture screen)
Click on the "DEVICE TAB", then the "Device type" dropdown box. (Your cam should be listed) and select it
Then click on the "Disk Management tab" and assign a large drive to capture to.
Check the settings under the "General Tab" to meet your needs.
Click OK and back to the capture screen and you should be able to capture now.
With HDV you capture & edit in the same workspace.
If you just installed the retail version watching the supplementary dvd helps, even for experienced persons. Also use the Help & "How Do I" help, very useful when starting out.

Hope this works for you.