I know the Dolby imports faster but which one has the highest quality?

Thanks,
Joe

LPCM
Ron Evans

Highest quality for what?

Here's my take. Basically, all the Dolby etc. gets converted to PCM when you bring the video into most NLEs for editing. It get recompressed when you put the edited video out to other formats like DVD.

On the other hand, LPCM from the NX5 (or from dv cams) does not require extra processing to be used in the NLE. That means fewer chances for things to go wrong. Assuming you need to work with the audio.

And note that some NLEs have trouble ingesting LPCM audio with AVCHD or HDV.

LPCM is less likely to clip which can be a big deal when the audio has wide swings in volume and great dynamic range. So, not a big deal if you are doing interviews and you have the talkers miked reasonably well. Can be a big deal if you've got wide dynamic range (say, music a piano and string quartet or a jazz trio). Remember that the NX5 has a built in audio limiter, too, which can mean you get cleaner audio to start with.